Friday, October 21 2016


Blue chips dampen market growth

Update: June, 10/2015 - 08:44

A La Carte Sam Son, a construction of the FLC Group in the central province of Thanh Hoa. FLC remained the most active code with more than 15 million shares traded as the national markets fell back yesterday. — Photo

HA NOI (VNS) — National markets fell back yesterday as most large-cap shares declined on heavy sell-offs.

On the HCM City Stock Exchange (HOSE), the VN-Index lost 0.92 per cent to finish at 574.47 points.

Declining stocks outnumbered advancers by 160 to 65.

Market liquidity was lower than Monday, with 162 million shares traded worth VND2.56 trillion (US$118.5 million).

None of the ten largest shares in terms of capitalisation and liquidity rose, and among the 30 largest shares on the market, only eight improved from Monday.

FLC remained the most active code with more than 15 million shares traded, but its market value fell by 2.15 per cent to VND9,100.

All bank shares declined. Vietcombank (VCB) dropped 2.43 per cent to VND44,200 per share and became the second most powerful share on the market after PetroVietnam Gas Corporation (GAS).

Gas stocks also had a poor performance. Although Petroleum Equipment Assembly And Metal Structure JSC (PXS) gained 3.55 per cent to close at VND23,300, GAS and PetroVietnam Transportation Corporation (PVT) declined by 1.57 and 3.17 per cent, respectively.

Things were also uneasy for securities shares, with only Sai Gon Securities JSC (SSI) and Thien Viet Securities JSC (TVS) making gains yesterday.

On the Ha Noi Stock Exchange, the HNX-Index was down 0.91 per cent to end at 87.05 points, with 139 decliners and 76 gainers.

About 81.7 million shares were traded, worth VND993 billion ($46 million), a decrease of 12 per cent from the previous day.

Among the leading shares on the northern bourse, only PetroVietnam Construction JSC (PVX) made gains, climbing 4.38 per cent, while the others declined or stayed unchanged, including Saigon Commercial Real-etate JSC (SCR), KLF Joint Venture Global Investment Company (KLF), FIT Investment JSC (FIT) and Tasco JSC (HUT).

SCR was the most active code with more than 8.3 million shares being traded. Its market value dropped 4.82 per cent to VND7,900.

Bank shares were unable to help the market improve. While Asia Commercial Bank (ACB) remained flat, Sai Gon-Ha Noi Bank (SHB) fell by 3.66 per cent.

Gas shares were mixed. Drilling Mud Corporation (PVC) lost 0.37 per cent, Petroleum Technical Services Corporation (PVS) was unchanged and the Petroleum Real Estate JSC (PVL) gained 10 per cent.

The Ha Noi Investment General Corporation (SHN) was the only bright spot, rising to its ceiling price at VND19,000 with 2.1 million shares traded.

Foreign investors on HOSE reduced their net selling value to VND49.7 billion ($2.3 million) and their net buying value on HNX to VND14 billion ($650,000). — VNS

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