Wednesday, November 14 2018

VietNamNews

Shares tumble on sluggish trades

Update: June, 05/2014 - 08:52
On HCM City Stock Exchange, the VN-Index dropped by 5.3 points or 0.95 per cent to end at 553.46 points.— File Photo
HA NOI (VNS)  — Shares tumbled yesterday due to sluggish trading after a slight rebound on Tuesday.

On HCM City Stock Exchange, the VN-Index dropped by 5.3 points or 0.95 per cent to end at 553.46 points.

The trading volume and value were at a very low level with a modest capital inflow as both sellers and buyers joined the market with hesitance.

Only around 68 million shares were traded yesterday on the southern bourse, worth VND968 billion (US$46 million).

Most large-cap stocks fell. Only Becamex IJC (IJC) and PetroVietnam Low Pressure Gas Distribution Corporation (PGD) managed to rise slightly.

Among the decliners, Vingroup Joint Stock Company (VIC) fell by 3.7 per cent to close at VND64,500 ($3.07) a share, Bao Viet Holdings (BVH) lost 4 per cent to close at VND38,100 ($1.8) a share and Hoa Phat Group (HPG) slid by 3.9 per cent to close at VND49,000 ($2.3) a share.

The VN30-Index, tracking the performance of the top stocks by capitalisation and liquidity, tumbled by 1.41 per cent to end at 603.83 points.

Overall, decliners outnumbered losers by 169 – 52.

FLC Group (FLC) was the most heavily traded stocks on the southern bourse, with 12.3 million shares changing hands, followed by Tan Tao Group (ITA), with 3.7 million shares traded, and Hoang Quan Corporaton (HQC), with nearly 3.2 million shares traded.

Blue chips tumbling on Ha Noi Exchange dragged down the benchmark indices with the HNX-Index seen dropping 1.42 per cent to close at 73.9 points and the HNXFF-Index, composed of stocks with a minimum free float rate of 5 per cent, losing 1.3 per cent to 74.45 points.

The HNX30-Index ended 1.99 per cent lower at 146.27 points.

Trading volume and value improved over the previous trading session, with more than 47.8 million shares worth nearly VND423 billion ($20.1 million) changing hands.

Foreign investors continued to be net buyers with lower net volume and value than the previous trading session, however.

They purchased a net volume of more than 3 million shares and a net value of VND66.3 billion ($3.1 million) declining 52.39 per cent and 55.56 per cent over Tuesday trading, respectively.

PetroVietnam Gas Corporation (GAS) and PetroVietnam Fertilisers and Chemicals Corporation (DPM) were the most appealing stocks to foreign investors.

According to Viet Nam Investment Securities (IVS), the benchmark indices might fall to 540 points on the southern bourse and 70 – 71 points on the northern bourse this week, together with a falling liquidity. Speculative stocks were forecast to post highest losses.

IVS reported that no sign of recovery of the capital inflow was visible, to date. — VNS

Send Us Your Comments:

See also: