Tuesday, July 17 2018

VietNamNews

Blue chips drag on VN-Index

Update: August, 09/2014 - 10:09
Investors at Rong Viet Securities in HCM City. — VNA/VNS Photo Pham Hau

HA NOI (VNS) — Stocks fell further yesterday, dragged down by blue chips despite rising demand on the HCM Stock Exchange.

The benchmark VN-Index closed off 0.36 per cent at 605.43 points, while the VN30, which tracks the top 30 shares by market value and liquidity, was down 0.35 per cent to stand at 641.93 points.

Nineteen of the 30 biggest shares lost value, including Bao Viet Holdings (BVH), Phu My Fertiliser (DPM), VinGroup (VIC), Vietcombank (VCB), Hoa Phat Group (HPG), Bank of Investment Development of Viet Nam (BID) and Military Bank (MBB).

Trading was good with the market volume rising 20 per cent above Thursday to nearly 109 million shares. Fund certificates were worth VND2.17 trillion (US$103 million), up 50 per cent compared with Thursday's value.

Realty shares attracted most attention, as four of the five most active codes on the southern bourse were from this sector, including FLC Group (FLC), Hoang Quan Consulting Trading Service Real Estate Corporation (HQC), Hoang Anh Gia Lai Group (HAG) and Tan Tao Investment Development Company (ITA).

FLC led the market in terms of volume with nearly 15 million shares, climbing 2.2 per cent to close at VND13,900 per share.

By contrast, the HNX-Index on the Ha Noi Stock Exchange managed gains in the last trading minutes, thanks to steady growth of large-cap shares such as Tien Phong Plastic Company (NTP), Sai Gon-Ha Noi Bank (SHB) and Vinaconex (VCG).

Demand was also good as market volume reached 59 million shares worth nearly VND683 billion ($32.4 million), up 20 per cent in volume and 30 per cent in value compared with the previous session.

Hot stocks such as PetroVietnam Construction Corp (PVX) and KLF Joint Venture Global Investment Co (KLF) were the most active. More than 10 million PVX were traded at the unchanged price of VND4,700 per share, while 5.1 million KLF changed hands at VND12,500 each, up 0.8 per cent over Thursday.

Foreign investors continued selling in HCM City's market, unloading shares worth over VND246 billion ($11.7 million). They returned as net buyers on Ha Noi's bourse, however, with a net buy of VND6.2 billion ($294,000). — VNS

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