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Shares mixed, trading sluggish

Update: June, 06/2014 - 08:56

The VN-Index fell by 2.36 points or as much as 0.43 per cent to end at 551.1 points.— Photo TNCK

HA NOI (VNS) — Trading continued to be sluggish on HCM City Stock Exchange yesterday with the benchmark index posting loss for the second consecutive day.

The VN-Index fell by 2.36 points or as much as 0.43 per cent to end at 551.1 points.

The trading value was below VND1 trillion (US$47 million) for three consecutive days as investors were reluctant to join the market.

Investors were in cautious psychology. Buyers were waiting for sellers to lower prices but remained calm.

Just more than 59.2 million shares changed hands yesterday, worth VND815 billion ($38.8 million).

The VN30-Index, tracking the performance of the southern bourse's top stocks by capitalisation and liquidity, slid by 0.37 per cent to end at 601.6 points. The VN30 package had 14 decliners and 12 advancers.

Masan Group (MSN) dropped by 2 per cent to VND92,000 ($4.3) a share, PetroVietnam Drilling Corporation (PVD) fell 1.8 per cent to VND82,000 ($3.9) a share and Hoa Sen Group (HSG) lost 2.3 per cent to VND42,000 ($2) a share.

Losses of these three pillars of market together with drop in Vietcombank (VCB) and Bao Viet Holdings (BVH) prevented the Vn-Index from posting gain although gainers overwhelmed losers by 128 – 70.

However, HCM City Infrastructure Investment Corporation (CII), Saigon Securities (SSI), Vingroup (VIC) and PetroVietnam Low Pressure Gas Distribution Corporation (PGD) were among the gainers.

Speculative stocks were active yesterday. FLC Group (FLC) added 6.1 per cent to VND10,500 ($0.5) a share and led by trading volume, with 13.4 million shares changing hands.

Shares rebounded on Ha Noi Exchange with the HNX-Index seen rising by 0.81 per cent to end at 74.5 points while the HNXFF-Index, composed of stocks with minimum free float rate of 5 per cent, adding 0.92 per cent to 75.14 points.

Tracking top stocks, the HNX30-Index edged up 1.33 per cent to end at 148.22 points.

However, trading was sluggish with only 32.7 million shares traded. The trading value was modest at VND297.7 billion ($14.1 million).

Foreign investors shifted their focuses to Ha Noi Exchange yesterday.

On the northern bourse, the foreign investors purchased a net 785,941 shares and VND14.13 billion ($670.000) in net value yesterday, respectively 116.5 per cent and 34.83 per cent higher than the first trading day of the week.

The net buying volume and value of the foreign investors on the HCM City Exchange declined by 76.31 per cent and 82.55 per cent, respectively, over the previous trading to 630.000 shares and VND9.74 billion ($460,000). — VNS

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