Tuesday, August 21 2018

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Profit taking drags on City stocks, Ha Noi stocks gain

Update: March, 19/2014 - 08:57
The VN-Index dropped 0.51 points, or as much as 0.08 per cent, to finish at 599.85 points after posting gains for nine consecutive days.— Photo tienphong

HA NOI (VNS)— Yesterday, shares finished slightly lower on the HCM City Exchange due to large scale profit booking despite significant capital inflow, while the shares gained on the Ha Noi Exchange.

The VN-Index dropped 0.51 points, or as much as 0.08 per cent, to finish at 599.85 points after posting gains for nine consecutive days.

After the announcement of key interest rate cuts, which came into effect since yesterday, investors' confidence strongly improved and more than 205 million shares successfully changed hands with a total value of VND3.8 trillion (US$180 million). This also helped prevent the benchmark index from suffering a bigger loss yesterday.

On the southern bourse, 136 codes increased yesterday, while 105 codes lost value.

Among the blue chips, although losers outnumbered gainers by 17-12, the VN30-Index, comprising the largest stocks by capitalisation and liquidity, advanced 0.46 per cent to close at 639.73 points yesterday.

PetroVietnam Transportation Corporation (PVT) continued to push its ceiling price of VND17,100 (US$0.8) with a gain of VND1,100 (US$0.052) per share, following the Market Vectors Viet Nam exchange-traded fund announcement that it would increase its holdings in the company during the fund's last week review of the investment list.

A total of 6.97 million shares of PVT were traded yesterday, ranking fifth among the top stocks by liquidity yesterday.

Yesterday's big gainers also included technology FPT Group (FPT), Ocean Group (OGC), Hoa Phat Group (HPG), and PetroVietnam Drilling Corporation (PVD). Vinh Son Song Hinh Thermoelectric Company (VSH) was also among the major gainers yesterday.

Meanwhile, Vingroup (VIC), Vinamilk (VNM), Vietcombank (VCB), and Kinh Do (KDC) closed in the red as profit booking happened in these stocks. Bao Viet Group (BVH) also finished in the red due to profit booking.

More than 15.4 million shares of the Tan Tao Group (ITA) changed hands yesterday, topping the bourse by liquidity.

Shares on the Ha Noi Stock Exchange maintained an upward trend yesterday. The HNX-Index added 1.29 points, or as much as 1.5 per cent, to end at 87.6 points. The HNXFF-Index, comprising stocks with minimum free float rate of 5 per cent ended the day at 87.79 points, rising 1.46 per cent.

Very high liquidity was recorded in the market and investors injected nearly VND1.45 trillion ($69 million) into the market and more than 133 million shares exchanged hands.

Tracking the capital city's 30 largest stocks by capitalisation and liquidity, the HNX30-Index closed at 177.37 points, rising 1.31 per cent.

PetroVietnam Construction Joint Stock Corporation (PVX) led the southern bourse by liquidity as nearly 18.8 million of its shares changed hands yesterday.

The HCM City Stock Exchange yesterday eliminated the stock of Petrolimex Export-Import Joint Stock Company (PIT) out of the VNSmallcap and VNSAllshare packages as the stock was put under control. — VNS

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