Tuesday, July 17 2018

VietNamNews

Blue chip losses drag on VN-Index

Update: August, 07/2014 - 09:25
The benchmark VN-Index dipped from the five-year high to close yesterday at 606.70 points, down 0.17 per cent from Tuesday.— Photo xaluan
HA NOI (VNS)  — Stocks fell in the dying minutes of yesterday's session on the HCM City Stock Exchange as investors increased selling blue chips.

The benchmark VN-Index dipped from the five-year high to close yesterday at 606.70 points, down 0.17 per cent from Tuesday.

Most of the large-cap shares lost value. These included PV Gas (GAS), Vietinbank (CTG) and FPT Corp (FPT) along with Bao Viet Holdings (BVH), Vietcombank (VCB), Hoang Anh Gia Lai Co (HAG) and Bank of Investment Development of Viet Nam (BIDV).

Thanks to the modest gains by Vinamilk (VNM), VinGroup (VIC) and Masan Group (MSN), the VN30, which tracks the top 30 shares by market value and liquidity, sustained the rise of 0.07 per cent to end the session at 644 points.

Despite an increase of 0.6 per cent in value, MSN shares were sold heavily by the foreign sector. Foreigners yesterday sold nearly 1.5 million shares worth VND129 billion (US$6.1 million), the highest volume and value in the history of this share, and accounted for over 70 per cent of foreign total net sale value of VND178 billion ($8.4 million) yesterday.

Total trading improved slightly over Tuesday with the market volume reaching 94 million shares and certificates, worth nearly VND1.92 trillion ($91 million), up 10 per cent in volume and 20 per cent in value.

Real estate FLC Group (FLC) secured the position of the most active stock yesterday on total trade of 12 million shares but the share price sank 1.5 per cent to end at VND13,200 ($0.63) per share.

By contrast, the HNX-Index on the Ha Noi Stock Exchange, propped up by blue chips, climbed 0.34 per cent to end at 80.39 points.

Many shares on the HNX30, like PetroVietnam Technical Services Corporation (PVS), construction giant Vinaconex (VCG), Tien Phong Plastic Company (NTP) and PetroVietnam General Distribution Services Corporation (PSG), posted gains.

The HNX30 was also up 0.35 per cent at 161.42 points.

The market volume grew 20 per cent over the previous session, totalling nearly 51 million shares worth VND597 billion ($28.3 million).

Like FLC on the HCM City's market, KLF Joint Venture Global Investment Company (KLF) began to attract speculative investment. This share was the most active on the Ha Noi bourse yesterday with 9.3 million shares, surging 4.24 per cent to close at VND12,300 ($0.56) a share.

Foreign investors ended up as net buyers here, picking up shares worth over VND10 billion ($474,000). — VNS

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