Friday, October 21 2016


Investors hold onto their cash

Update: May, 16/2015 - 10:25
An investor watches trades at a VP Bank Securities Co's trading floor in Ha Noi. Shares extended losses yesterday on the two exchanges as liquidity continued to decline. — VNS Photo Truong Vi
HA NOI  (VNS) — The nations stock markets fell back yesterday after improving on Thursday, as investors held on to their money.

On the HCM Stock Exchange, the VN-Index lost 1.15 per cent to close at 537.44 points.

The number of gainers to decliners was 60 to 167, while 76 stocks remained flat.

Market liquidity increased to nearly 73 million shares worth VND1.07 billion (US$49.6 million).

Ocean Group JSC (OGC) and FLC Group (FLC) continued to fall, with OGC hitting its floor price at VND2,700, while FLC lost 4.08 per cent to stand at VND9,400.

The VN30 Index, which covers the 30 largest codes by market value and liquidity, fell by 1.41 per cent to end at 561.87 points.

Of the top 30, 24 stocks fell, while only Pha Lai Thermal Power JSC (PPC) and Vietcombank (VCB) increased by 0.93 and 0.26 per cent, respectively.

Other large-cap shares, including Vingroup Corporation (VIC), Masan Group (MSN), Refrigeration Electrical Engineering Corporation (REE) and FPT Corporation (FPT) dragged the market down.

Investors were largely disappointed at all five bank codes. Their decline was also one of the main factors that created a downward move in the market. Large-cap banks such as the Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG) and Military Bank (MBB), lost between 0.76 and 2.8 per cent.

Gas stocks also fell further from Thursday. PetroVietnam Gas JSC (GAS), Petrovietnam Drilling & Well Service Corporation (PVD) and PetroVietnam Transportation Corporation (PVT) were down 1.61 per cent, 3.81 per cent and 2.73 per cent, respectively.

On the Ha Noi Stock Exchange, the HNX-Index lost 1.69 per cent to conclude at 78.21 points. Of all stocks, the number of gainers was half the number of losers by 59 to 136.

On the northern market, a total of 38 million shares were traded, worth VND419.5 billion ($19.4 million).

The HNX30 Index fell by 1.92 per cent to finish at 146.26 points, and losers outnumbered advancers by 22 to four.

Large-cap gas codes declined and drove the market down. PetroVietnam Southern Gas JSC (PGS), Drilling Mud Corporation (PVC), Petroleum Technical Services Corporation (PVS) and PetroVietnam Coating JSC (PVB) lost 0.52 per cent, 2.78 per cent, 2.81 per cent and 1.07 per cent, respectively.

FIT Investment JSC (FIT) was the most traded share on the northern market with more than 7.6 million shares changing hands. It finished up 3.05 per cent at VND13,500.

Foreign investors yesterday ended as net buyers, nearly tripling their total net sale value to VND31.4 billion ($1.45 million) compared to Thursday. — VNS

Send Us Your Comments:

See also: