Sunday, October 23 2016


Blue chips drag down both bourses

Update: June, 24/2015 - 09:27

An investor uses a pen to mark a stock on the electronic trading board at the Ha Noi Stock Exchange. Blue chip slumps dragged down both stock indices yesterday. — VNS Photo Thai Ha

HA NOI (VNS) — The VN Index yesterday ended lower than its benchmark on Monday as buyers showed less purchasing power and blue chips moved downward.

On the HCM City Stock Exchange, VN-Index lost 0.17 per cent to finish at 593.07 points with a mixed performance between 110 advancers and 113 decliners.

Market liquidity remained high. Nearly 130 million shares were traded, worth VND2.3 trillion (US$106 million).

The VN30, which tracks the 30 largest shares in terms of capitalisation and market value, also made a loss of 0.11 per cent to 614.42 points with nine gainers and 14 decliners.

FLC Group (FLC) was the most active code on the market with 20.6 million shares traded, equal to a sixth of market trading volume. The shares dropped 2.22 per cent to VND8,800 per share.

Top blue chips that rose on Monday, including Vietcombank (VCB), Petro Vietnam Gas Corporation (GAS) and Vietnam Dairy Products Joint Stock Corporation (VNM), either stayed flat or fell.

In addition, other large-cap shares, such as Saigon Securities Joint Stock Company (SSI), Sacombank (STB) and Petro Vietnam Drilling & Well Service Corporation (PVD), also declined and pulled the market down. The three shares were down 1.26 per cent, 1.06 per cent and 0.92 per cent, respectively.

The drop in the market, however, was limited as there were some codes that improved. Military Bank (MBB) rose by 0.63 per cent, Vingroup JSC (VIC) was up 0.97 per cent and Da Nang Rubber Joint Stock Company (DRC) gained 1.61 per cent.

On the Ha Noi Stock Exchange, the HNX Index dropped 0.39 per cent to end at 87.09 points with decliners outnumbering gainers by 120 to 70.

Overall, the northern market traded more than 52 million shares, worth VND577.8 billion ($26.7 million), a decrease of 5.1 per cent.

Securities shares had a terrible day. VNDirect Securities JSC (VND) lost 1.47 per cent, Sai Gon-Ha Noi Securities JSC (SHS) dropped 1.16 per cent, Kim Long Securities JSC (KLS) was down 1.05 per cent and Bao Viet Securities JSC (BVS) decreased by 1.36 per cent.

Many blue chips on the northern bourse also declined, including Asia Commercial Bank (ACB), Petrovietnam Northern Gas JSC (PVG), Petrovietnam Coating JSC (PVB) and Sai Gon Commercial Real-Estate JSC (SCR).

Only four stocks saw trading exceed two million shares yesterday, including Sai Gon-Ha Noi Bank (SHB) as the most active stock with 4.6 million shares being traded. SHB also stayed flat.

Among the most active codes, the market saw improvements in KLF Joint Venture Investment Global Corporation (KLF) and FIT Investment JSC (FIT) with a growth of 1.43 and 2.31 per cent.

Foreign investors yesterday concluded as net sellers, totalling a value of VND301 billion ($14 million) with focus on Vingroup Corporation (VIC) on the southern bourse and VNECO 9 Investment & Construction JSC (VE9) on the northern market. — VNS

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