Wednesday, December 7 2016

VietNamNews

Shares decline after volatile sessions

Update: May, 07/2015 - 09:26
Stocks declined yesterday afternoon, dragging the VN-Index down 0.61 per cent to close the session at 549.30 points.— Photo petrotimes

HA NOI (VNS)  — Stocks declined yesterday afternoon, dragging the VN-Index down 0.61 per cent to close the session at 549.30 points.

On the HCM Stock Exchange, the number of losing stocks almost tripled that of gaining stocks. Blue chips led the downturn as shown in a 1.04-per-cent decrease of the VN30, which tracks the top 30 shares by market value and liquidity.

Oil and gas stocks, the market's momentum during the morning's trades, sustained growth in the afternoon, but blue chips plunged, pulling the market down.

Heavyweight stocks such as VinGroup (VIC), Vietcombank (VCB), BIDV (BID), Vietinbank (CTG), Sacombank (STB), Hoa Phat Group (HPG), Eximbank (EIB) and Bao Viet Holdings (BVH) all slumped.

The market was volatile, with up and down sessions altering session by session. Aside from information about a petrol price hike on Tuesday night, there was no negative information that could dampen investors' psychology.

According to analysts at FPT Securities Co, investors sold off more speculative stocks to avert risks at the back of the biggest fuel price hike in four years.

Liquidity improved, however, as market volume and value climbed 20 per cent over the previous session, totalling 89.3 million shares worth VND1.45 trillion (US$67.1 million) by the end of the day.

Hong Huy Investment Services Co (HHD) claimed the most active stock position with 9.2 million shares, surging 3.52 per cent to end at VND20,600 ($0.95) a share.

On the Ha Noi Stock Exchange, the HNX-Index also sank to a 2015 low, losing 1.06 per cent to finish the session at 79.38 points. Meanwhile, the HNX30, which tracks the top 30 shares with the highest liquidity, shed 1.35 per cent to close at 149.34 points.

Market conditions were negative, as the decliners outnumbered the advancers by 131-65, while other 172 closed flat.

Volume of trades here also increased 20 per cent over Tuesday, reaching 50.2 million shares, while the total value rose 40 per cent to almost VND578 billion ($26.8 million).

KLF Joint Venture Global Investment Co (KLF) remained the most active stock by the end of the session with more than 12 million shares traded. But its share price dived 9.8 per cent to settle at VND7,600 each.

In contrast with domestic investors' moves, foreign investors boosted their buys when the market fell hard. They collected shares worth up to VND212 billion ($9.8 million) in the HCM City market yesterday. However, they were responsible for a net sell value of VND6.5 billion ($302,000) in shares in the Ha Noi market. — VNS

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