|Investors follow transactions at FPT Securities Company in Ha Noi. Trading slowed down as both market volume and value decreased 30 per cent from Tuesday on the Ha Noi Stock Exchange. — VNS Photo Thai Ha
HA NOI (VNS) — Stocks failed to sustain morning gains, with the benchmark VN-Index falling 0.26 per cent to close the session at 591.5 points.
Blue chips were mixed. The VN30, which tracks the top 30 shares by market value and liquidity on the HCM City Stock Exchange, inched up just 0.08 per cent to end at 622.91 points.
Bank stocks led the downturn here as most of large-cap lenders posted losses.
Vietinbank (CTG) was the biggest loser, down 3.65 per cent, followed by Vietcombank (VCB) with a decrease of 3.07 per cent. VCB is the biggest stock in term of market capitalisation so its slump substantially weighed down the southern market.
Other banks like Military Bank (MBB), Eximbank (EIB) and BIDV (BID) also dropped 1.5 to 2 per cent.
"Many investors decided to take margins when the market approached the sentimental threshold of 600 points," analysts at FPT Securities Co wrote in a report on the company's website yesterday.
Overall liquidity declined from Tuesday with the market volume being down 10 per cent to reach 133.3 million shares while value of trades declined 20 per cent to over VND2.2 trillion (US$101 million).
Property developer FLC Group (FLC) continued to top the market with a whopping trade of 11.5 million shares, closing flat at VND8,600 a share.
On the Ha Noi Stock Exchange, the HNX-Index managed a gain of 0.36 per cent to finish yesterday at 85.25 points thanks to rallies of blue chips.
Members of the HNX30, which includes the 30 biggest stocks in terms of market value and liquidity in the Ha Noi market such as Asia Commercial Bank (ACB), PetroVietnam Technical Services (PVS) and construction giant Vinaconex (VCG), boosted the market.
However, trading slowed down as both market volume and value decreased 30 per cent from Tuesday, totalling more than 40 million shares worth VND511.2 billion ($23.4 million).
F.I.T Investment Co (FIT) remained the most active code with 3.5 million shares, closing 1.6 per cent lower at VND12,600 each.
Foreign investors continued to buy shares in the two markets, but their net buy values were tiny at just nearly VND23 billion ($1.1 million) yesterday, down substantially compared with a net buy of VND457 billion ($21 million) seen on Tuesday. — VNS