Thursday, November 15 2018

VietNamNews

Markets suffer as sell-offs drag down stocks

Update: June, 03/2014 - 09:23
Investors trace market fluctuations at a VNDirect stock trading floor. — VNA/VNS Photo Pham Hau

HA NOI  (VNS) — Benchmark indices tumbled on both national stock exchanges yesterday as selling pressure intensified during afternoon trading.

Foreign investors continued as net buyers of VND131 billion (US$6.23 million) shares with the focus on large-cap stocks, including Masan Group (MSN), PetroVietnam Fertilisers and Chemicals Corporatioin (DPM) and PetroVietnam Gas Corporation (GAS).

On the HCM City Stock Exchange, the VN-Index shed 5.22 points, equivalent to 0.93 per cent, to end at 556.8 points.

Most of the market pillars fell yesterday with the VN30-Index, tracking the performance of the southern bourse's 30 largest stocks by capitalisation and liquidity, dropping 7.01 points to 610.99 points.

Only three codes in the VN30 managed to advance yesterday, including Eximbank (EIB), PetroVietnam Low Pressure Gas Distribution Corporation (PGD) and Vinamilk (VNM), and six others closed at their reference prices.

Becamex IJC (IJC) lost 6.4 per cent to close at its floor price of VND11,700 ($0.55) a share.

Decliners included Bao Viet Holdings (BVH), Da Nang Rubber Corporation (DRC), Hoa Sen Group (HSG) and Vingroup (VIC).

Overall, on the southern bourse, decliners outnumbered advancers by 166-60.

Trading volume and value were at low levels as a result of poor demand, with a modest 80.2 million shares changing hands, worth VND1.17 trillion ($55.7 million).

FLC Group (FLC) led the southern bourse by trading volume with a massive 14.3 million shares traded, following by Tan Tao Group (ITA) with 4.7 million shares changing hands.

On Ha Noi Exchange, the HNX-Index finished at 74.81 points, dropping 1.31 per cent and the HNXFF-Index, composed of stocks with a minimum free float rate of 5 per cent, fell by 1.46 per cent to 75.28 points.

The loss was mostly felt by large-cap stocks with the HNX30-Index, tracking the top 30 stocks, seen falling by 2.29 per cent to 148.64 points, coupled with weak capital inflow.

With around 52.4 million shares traded, trading value reached VND468.3 billion ($22.3 million). — VNS


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