Friday, August 18, 2017 - 10:15:03

Blue chips drag on VN-Index

Print

Stocks fell further on August 8, dragged down by blue chips despite rising demand on the Ho Chi Minh Stock Exchange.

The benchmark VN-Index closed off 0.36 percent at 605.43 points, while the VN30, which tracks the top 30 shares by market value and liquidity, was down 0.35 percent 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 Vietnam (BID) and Military Bank (MBB).

Trading was good with the market volume rising 20 percent above August 7 to nearly 109 million shares. Fund certificates were worth 2.17 trillion VND (103 million USD), up 50 percent compared with the value on August 7.

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 percent to close at 13,900 VND per share.

By contrast, the HNX-Index on the Hanoi 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-Hanoi Bank (SHB) and Vinaconex (VCG).

Demand was also good as market volume reached 59 million shares worth nearly 683 billion VND (32.4 million USD), up 20 percent in volume and 30 percent 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 4,700 VND per share, while 5.1 million KLF changed hands at 12,500 VND each, up 0.8 percent over August 7.

Foreign investors continued selling in HCM City 's market, unloading shares worth over 246 billion VND (11.7 million USD). They returned as net buyers on Hanoi 's bourse, however, with a net buy of 6.2 billion VND (294,000 USD).-VNA
Your comments about this article ...
Others