Saturday, October 29 2016


Blue chips drive market down

Update: May, 12/2015 - 09:12
On the HCM Stock Exchange, the VN-Index edged down 0.51 per cent to end at 551.67 points.— File Photo
HA NOI  (VNS) — Large-cap stocks yesterday weakened in the afternoon after making some progress in the morning, resulting in the decline of indices on both bourses.

On the HCM Stock Exchange, the VN-Index edged down 0.51 per cent to end at 551.67 points.

Of all stocks, declining codes outnumbered advancing ones by 126 to 79 and 98 others stayed flat.

Market liquidity increased in comparison to last Saturday. More than 108 million shares were traded for a total value of VND1.6 trillion (US$74.2 million).

The VN30 Index, tracking the 30 largest codes by market value and liquidity, decreased by 0.6 per cent to end at 579.41 points.

In this basket, the number of gainers was a quarter the number of losers by five to 19.

Ocean Group JSC (OGC) traded more than 23 million shares to take the lead on the market as the most traded code. It continued to hit the floor price with a decrease of 0.67 per cent to VND3,000.

Among large-cap shares, Hoang Huy Investment JSC (HHS) gained 6.5 per cent to hit the ceiling price at VND22,800. Other large-cap codes, including HCM City Infrastructure Investment JSC (CII), the Southern Rubber Industry JSC (CSM), HCM City Securities Corporation (HCM) and Hoa Sen Group (HSG) rose in value, but were unable to drive the market forward.

Bank stocks largely disappointed investors. Among them, only Vietcombank (VCB) improved with an increase of 0.5 per cent. Other large-cap banks stayed flat or declined, such as the Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG) and Military Bank (MBB) with a decrease of 1.1 per cent, 1.65 per cent and 1.48 per cent, respectively.

Investors were also upset about gas stocks. PetroVietnam Gas JSC (GAS), Petrovietnam Drilling & Well Service Corporation (PVD) and PetroVietnam Transportation Corporation (PVT) lost between 0.79 and 2.72 per cent. Other gas stocks remained flat.

On the Ha Noi Stock Exchange, the HNX-Index decreased by 0.66 per cent to finish at 79.76 points. Losing stocks slightly outnumbered gainers by 104 to 76 and 186 flat stocks.

The market liquidity slightly improved compared to the previous session. More than 41 million shares were traded for VND429 billion ($20 million).

The HNX30 Index lost 0.97 per cent to close at 149.77 points. In this basket, the number of losers tripled that of gainers by 16 to five.

On the northern bourse, large-cap codes such as PetroVietnam Northern Gas JSC (PVG), Sai Gon-Ha Noi Bank (SHB) and Petroleum Technical Services Corporation (PVS) declined, dragging the market down. They decreased by 3.33 per cent, 2.47 per cent and 1.98 per cent.

KLF Joint Venture Global Investment JSC (KLF) remained the most active code on the northern bourse with 7.8 million of shares traded.

Foreign investors extended their positive movement on the market, however, a total net buy value slightly decreased by 14 per cent to VND63.6 billion ($2.9 million). — VNS

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