Saturday, January 18 2020


VN stocks almost fall on food and beverage, property and rubber stocks

Update: March, 19/2016 - 09:00
Photo taken of investors on BSC’s trading floor. The food and beverage sector yesterday helped pull markets down. - VNS Photo Trương Vị

HÀ NỘI – Vietnamese shares yesterday mostly fell on both local markets, led by food and beverage producers, property developers and natural rubber companies.

The benchmark VN Index on the HCM Stock Exchange dropped 0.6 per cent to close at 575.82 points, ending its gain of 0.9 per cent over the last two sessions.

The HNX Index on the Hà Nội Stock Exchange was nearly unchanged at 80.59 points, rallying 1.2 per cent in the last three days.

Masan Group (MSN), sugar producer Thành Thành Công JSC (SBT) and seafood maker Hùng Vương JSC (HVG) pulled the food and beverage sector down.

MSN dropped 1.4 per cent after the company on Thursday announced that Masan may not pay last year’s dividend for its shareholders. MSN has fallen 4.7 per cent in the last four sessions.

SBT slumped 6.8 per cent despite Market Vectors Vietnam ETF (VNM ETF) adding the stock to their investment portfolio for the next quarter. SBT had rose 9.2 per cent during the previous four trading days.

HVG lost 1.7 per cent after the stock had increased 12 per cent in the previous six days.

Among property developers, Vingroup JSC (VIC), Tân Tạo Investment Industrial JSC (ITA), Kinh Bắc City Development Share Holding Corporation (KBC) and Phát Đạt Real Estate Development JSC (PDR) were the biggest losers.

VIC and ITA fell 2 per cent each, KBC was down 1.6 per cent and PDR slumped 3.5 per cent.

Natural rubber producers yesterday also helped drive the markets down as rubber prices on the Tokyo Commodity Exchange declined by 1.6 per cent to trade at 176 (US$1.58) yen per kilogramme.

Hòa Bình Rubber JSC (HRC) dropped 2.4 per cent, Tây Ninh Rubber JSC (TRC) lost 1.7 per cent, and Quảng Nam Rubber Investment JSC (VHG) was down 1.6 per cent.

Plastic producers, however, lifted markets. Bình Minh Plastic JSC (BMP) jumped 4.4 per cent, Tiền Phong Plastic JSC (NTP) gained 2.3 per cent, and Rạng Đông Plastic JSC (RDP) advanced 2.8 per cent.

Both markets also received strong boosts from other large-cap stocks such as information and technology firm FPT Corporation (FPT), HCM City Securities Corporation (HCM), Bảo Minh Insurance Corporation (BMI) and steel maker Hoa Sen Group (HSG).

Market liquidity yesterday rose from Thursday’s figures as exchange-traded funds revised their investment portfolios for the next quarter, Bảo Việt Securities Corporation (BVSC) wrote in a report.

Both local markets traded nearly 283 million shares worth VND4.58 trillion ($203.7 million), an increase of more than one-third from Thursday’s trading value. – VNS

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