Shares end mixed after sell-offs

Update: July, 17/2014 - 09:34
The VN-Index managed to tick up 0.06 per cent to end at 589.68 points yesterday, and the 590-point level was challenged in today's trading.— Photo vov
HA NOI  (VNS) — Shares ended slightly higher on the HCM City Stock Exchange despite strong sales during the afternoon session, but the northern index was less lucky at avoiding a drop yesterday.

The market witnessed the return of significant capital inflows from the beginning of this week, following the acknowledgement of positive economic prospects coupled with the news that China's illegal oil rig in Viet Nam's exclusive economic zone is being moved.

The market opened with bullish trading, similar to the two previous trading sessions. However, as selling pressure appeared when the VN-Index approached 594 points and intensified into a sell-off late in the afternoon, the index's gains narrowed rapidly.

The VN-Index managed to tick up 0.06 per cent to end at 589.68 points yesterday, and the 590-point level was challenged in today's trading.

The trading volume and value remained at a high level, roughly the same as the previous trading session, with 138 million shares changing hands, worth VND2.2 trillion (US$104 million).

Blue chips ended mixed, with nine gainers and 11 losers. Still, the VN30-Index, tracking the performance of the southern bourse's top stocks by capitalisation and liquidity, edged up 0.16 per cent to finish at 637.13 points.

In the VN30 package, Masan Group (MSN), Gemardept Corporation (GMD) and Hoa Phat Group (HPG) advanced, while Southern Rubber Corporation (CSM), Da Nang Rubber Corporation (DRC) and several members of PetroVietnam declined.

Overall, 180 codes advanced, 98 codes fell and 77 codes tread water.

FLC Group (FLC) continued to be the most heavily traded stocks on the southern bourse yesterday, with 15 million shares changing hands.

Selling pressure dragged the HNX-Index down 0.09 per cent to close at 80.13 points yesterday, ending the three-day streak. Still, advancers overwhelmed decliners by 101-72 on the northern bourse.

However, market liquidity improved greatly, with investors' confidence seen to be improving. The trading volume reached 72.5 million shares, worth VND803.9 billion, which is 73 per cent and 55 per cent higher than the last two trading sessions, respectively.

The HNX-Index did not receive support from blue chips, with the HNX30-Index seen dropping 0.41 per cent to 163.34 points.

Foreign investors unexpectedly concluded as net buyers of VND47 billion ($2.2 million) shares yesterday after selling a net VND69.44 billion ($3.2 million) worth of shares on Tuesday. — VNS