Friday, August 18, 2017 - 19:49:06

Shares mixed, trading sluggish

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Trading continued to be sluggish on Hochiminh Stock Exchange on June 5 with the benchmark index posting loss for the second consecutive day.

The VN-Index fell by 2.36 points or as much as 0.43 percent to end at 551.1 points.

The trading value was below 1 trillion VND (47 million USD) for three consecutive days as investors were reluctant to join the market.

Investors were in cautious psychology. Buyers were waiting for sellers to lower prices but remained calm.

Just more than 59.2 million shares changed hands on June 5, worth 815 billion VND (38.8 million USD).

The VN30-Index, tracking the performance of the southern bourse's top stocks by capitalisation and liquidity, slid by 0.37 percent to end at 601.6 points. The VN30 package had 14 decliners and 12 advancers.

Masan Group (MSN) dropped by 2 percent to 92,000 VND (4.3 USD) a share, PetroVietnam Drilling Corporation (PVD) fell 1.8 percent to 82,000 VND (3.9 USD) a share and Hoa Sen Group (HSG) lost 2.3 percent to 42,000 VND (2 USD) a share.

Losses of these three pillars of market together with drop in Vietcombank (VCB) and Bao Viet Holdings (BVH) prevented the Vn-Index from posting gain although gainers overwhelmed losers by 128 – 70.

However, HCM City Infrastructure Investment Corporation (CII), Saigon Securities (SSI), Vingroup (VIC) and PetroVietnam Low Pressure Gas Distribution Corporation (PGD) were among the gainers.

Speculative stocks were active on June 5. FLC Group (FLC) added 6.1 percent to 10,500 VND (0.5 USD) a share and led by trading volume, with 13.4 million shares changing hands.

Shares rebounded on Hanoi Exchange with the HNX-Index seen rising by 0.81 percent to end at 74.5 points while the HNXFF-Index, composed of stocks with minimum free float rate of 5 percent, adding 0.92 percent to 75.14 points.

Tracking top stocks, the HNX30-Index edged up 1.33 percent to end at 148.22 points.

However, trading was sluggish with only 32.7 million shares traded. The trading value was modest at 297.7 billion VND (14.1 million USD).

Foreign investors shifted their focuses to Hanoi Exchange on June 5.

On the northern bourse, the foreign investors purchased a net 785,941 shares and 14.13 billion VND (670.000 USD) in net value on June 5, respectively 116.5 percent and 34.83 percent higher than the first trading day of the week.

The net buying volume and value of the foreign investors on the HCM City Exchange declined by 76.31 percent and 82.55 percent, respectively, over the previous trading to 630.000 shares and 9.74 billion VND (460,000 USD).-VNA
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