Thursday, January 23 2020


VN-Index edges up on large-caps

Update: July, 18/2015 - 09:09

Investors trace market fluctuations at Maybank KIM Eng's stock trading floor in HCM City. — VNA/VNS Photo Hoang Hai

HA NOI (VNS)— Shares improved slightly on the HCM City Stock Exchange yesterday thanks to several large-cap stocks' recoveries. But liquidity continued to slide on rising investor caution.

The VN-Index inched up 0.28 per cent to close the session at 628.63 points while the VN30, which tracks the top 30 shares by market value and liquidity, increased 0.3 per cent to end at 651.03 points.

Supporters included Military Bank (MBB), Vietinbank (CTG), steelmaker Hoa Phat Group (HPG), property developer Hoang Anh Gia Lai Co (HAG), Phu My Fertiliser (DPM) and insurer Bao Viet Holdings (BVH). However, most other blue chips tumbled or closed unchanged.

Overall market conditions were positive with 131 stocks climbing, 81 declining and 93 unchanged.

Liquidity kept falling with just 107 million shares worth VND1.81 trillion (US$83 million), down 20 per cent in volume and 26 per cent in value compared with Thursday's levels.

Speculative stocks like FLC Group (FLC) maintained their attraction as more than 13.4 million shares were bought yesterday, pushing its price up nearly 5 per cent to reach VND8,500 a share.

"A big worry is that profit-taking pressure is still a factor in various stocks, and has created separation between stocks in the same industry. Besides, negative trading in the foreign sector has discouraged local investors," analysts at Sai Gon-Ha Noi Securities Co wrote in a note.

Foreign investors continued to unload shares in HCM City's market yesterday. They were responsible for a net sell value of nearly VND39 billion ($1.8 million). On Thursday, they also offloaded shares worth $6.6 million.

Without support from blue chips, the HNX-Index on the Ha Noi Stock Exchange lost another 0.59 per cent to finish the session at 87.07 points.

Market conditions were fairly neutral with 86 stocks advancing, 88 falling and 184 unchanged.

Liquidity was low here as the market volume dropped another 17 per cent from the previous session to reach 47.5 million shares and the trading value decreased 21 per cent to VND576.5 billion ($26.4 million).

The foreign sector remained net buyers here, but they picked up a modest value of just VND15 billion ($688,000). — VNS

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