Thursday, December 8 2016

VietNamNews

Bank shares drive markets backwards

Update: June, 25/2015 - 09:55
On the HCM City Stock Exchange, the VN-Index was down 0.51 per cent to 590.02 points. — Photo vneconomy
HA NOI  (VNS) — Both bourses yesterday fell from their previous values on Tuesday as foreign investors remained as net sellers and all bank shares declined.

However, foreign investors reduced the total net sell value by 77 per cent to VND69 billion (US$3.2 million).

On the HCM City Stock Exchange, the VN-Index was down 0.51 per cent to 590.02 points.

Shares were very active with 75 flat stocks, 100 gainers and 111 decliners.

Market liquidity was slightly down compared with Tuesday, with 129 million shares worth VND2.1 trillion ($97 million) traded.

Shares with large capital-isations and low market values remained the most active on the market. FLC Group (FLC) topped market trading with 18.7 million shares and gained 1.36 per cent to VND8,900 per share. On the contrary, OGC Group (OGC) fell to VND2,700 and saw 10 million shares traded yesterday.

Among the 10 blue chips on the market, only Vingroup Corporation (VIC) made gains and Petro Vietnam Gas Corporation (GAS) remained flat, while the others fell from their Tuesday values.

VN30 basket conditions were bad, with 18 decliners including Vietcombank (VCB), Vietnam Dairy Products Joint Stock Company (VNM) and Ma San Group (MSN). The VN30 Index lost 0.6 per cent to close at 610.73 points.

All bank shares fell from their previous values, while among gas shares only Petrovietnam Drilling & Well Service Corporation (PVD) declined. Securities shares showed some positivity with HCM City Securities Corporation (HCM) and Sai Gon Securities Incorporation (SSI) making gains.

Also struggled

Mid-cap shares and small-cap shares also struggled during yesterday's session. The VNMID Index fell by 0.19 per cent to 656.14 points while the VNSML Index ended almost flat at 668.41 points. Both baskets ended with a balanced performance between decliners and gainers.

On the Ha Noi Stock Exchange, the HNX Index dropped 0.34 per cent to end at 86.46 points with decliners outnumbering gainers by 115 to 83 and 161 flat codes. Overall, northern market liquidity ended slightly higher than Tuesday with more than 51 million shares worth VND650 billion ($30 million) traded.

Both Sai Gon-Ha Noi Bank (SHB) and Asia Commercial Bank (ACB) declined from their previous values by 1.2 and 1.83 per cent.

Gas shares improved but were unable to help the northern market avoid its fall. Drilling Mud Corporation (PVC), Petroleum Technical Services Corporation (PVS) and Petro Vietnam Construction JSC (PVX) gained 3.27, 2.17 and 2.44 per cent. — VNS


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