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VietNamNews

Disappointment as blue chips fade

Update: May, 28/2015 - 09:03
An investor traces market changes at VP Securities — VNS Photo Truong Vi
HA NOI  (VNS) — The stock market yesterday disappointed most investors as blue chips declined on both bourses.

The situtation was worse for the southern bourse as blue chips dragged the market down, while the northern one was able to extend its recovery for another session.

Foreign investors contributed to the decline by recording a total net buy value of VND78 billion (US$3.6 million), a decrease of 60 per cent compared to the previous session.

This was the eighth consecutive session in which foreign investors stayed as net buyers.

The VN-Index lost 0.13 per cent to finish at 566.48 points. The VN30 Index also lost 0.22 per cent to 589.82 points with 14 decliners and 8 gainers.

Both market trading volume and trading value fell from Tuesday's numbers. While market trading volume was 115 million shares, the value was VND1.75 trillion (US$81.3 million), a decrease of 17.3 per cent.

Bank shares were mixed. Vietcombank (VCB) and Sacombank (STB) shares both fell.

Among large-cap gas codes, PetroVietnam Transporation Corporation (PVT) was the only one that rose.

FLC Group (FLC) continued as the most active code with 19 million shares being traded. FLC and Ocean Group JSC (OGC) maintained their ceiling price from the morning session at VND8,900 and VND2,600.

Unlike the VN Index on the southern bourse, the HNX-Index in the north closed almost unchanged at 81.72 points.

The HNX30 Index, tracking 30 largest shares regarding their liquidity and value, dropped by 0.02 per cent, not enough to drive the northern market down.

Mid-cap and small-cap shares performed well to help the market overcome the decline in blue chips.

PetroVietnam-Nghe An Investment and Trading JSC (PXA), Thien Quang Group JSC (ITQ), Ha Noi Investment General Corporation (SHN) and IB Securities JSC (VIX) were among the small and mid-cap shares that improved.

Gas codes were a disappointment.Three large-cap shares, including Petro Vietnam Construction Joint Stock Corporation (PVX), Petroleum Technical Services Corporation (PVS) and PetroVietnam Coating JSC (PVB) declined from their values in the previous session.

KLF Joint Venture Global Investment Co (KLF) surpassed FIT Investment JSC (FIT) to be the most active stock with 5.9 million shares traded. Its market value stayed unchanged.

On the market, more than 50 million shares were traded for a total value of VND559 billion ($26 million), a decrease of 18.8 per cent over Tuesday. — VNS VNS

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