|The VN-Index on the HCM City Exchange lost 0.02 per cent to 504.51 points on trading of 57.7 million shares, as total trading value reached VND906.3 billion (US$43.15 million).— Photo nld
HA NOI (VNS)— The upward trend failed to continue on HCM City Stock Exchange, with the benchmark index closing down on the opening trading day of 2014.
However, shares on the Ha Noi exchange advanced yesterday.
The VN-Index on the HCM City Exchange lost 0.02 per cent to 504.51 points on trading of 57.7 million shares, as total trading value reached VND906.3 billion (US$43.15 million).
Despite gains in the morning, investors boosting the sales of blue chips in the afternoon dragged down the benchmark index.
The VN30-Index, tracking the southern city's 30 largest shares by capitalisation and liquidity, lost 0.04 per cent to 562 points.
Gains from six blue chips, including Vietinbank (CTG), PetroVietnam Fertilisers and Chemicals (DPM), Eximbank (EIB), FPT Group (FPT), PetroVietnam Low Pressure Gas Distribution (PGD) and Pha Lai Thermoelectricity (PPC), failed to support the benchmark index to increase yesterday.
Of the 30 top shares, 14 stocks lost value, such as HCM City Infrastructure Investment (CII), logistics company Gemardebt (GMD), Kinh Do (KDC), Masan Group (MSN), Ocean Group (OCG) and Vietcombank (VCB).
Also, the cash flow had signals to shift from blue chips to speculative stocks.
FLC Group (FLC) was active yesterday, increasing VND600 ($0.028) per share to its ceiling price of VND9,400 ($0.44) with 7.4 million shares traded, leading the southern bourse in liquidity.
On the Ha Noi Exchange, liquidity was lower than Tuesday trading, with 33.4 million shares changing hands with a total value of VND268 billion ($12.76 million).
However, the HNX-Index maintained its upward trend, edging up 0.13 per cent to reach 67.93 points.
The HNXFF-Index, which was launched one month ago composed of stocks with a minimum free-float rate of 5 per cent, rose 0.11 per cent to 67.99 points.
The HNX30-Index, comprised of the capital city's top shares, however, dropped 0.28 per cent to 126.79 points.
According to FPT Securities, Tuesday's investor enthusiasm on expectations about the increase of foreign stakes from the current 49 per cent to 60 per cent eased on Thursday.
Vietnam Investment Securities said that the approaching Tet holiday (Lunar New Year) also put the market under selling pressure.
The company noted that stocks would be a shining investment channel, in comparison with others in 2014.
However, earning profits were not clear, as most profitable stocks had their holders. Investors should take advantage when the market declines to buy blue chips, since the market would soon recover, said Viet Nam Investment Securities. — VNS