Saturday, August 19, 2017 - 16:32:56

VN-Index struggles to make gains

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Stocks continued to rise on June 11 on the Ho Chi Minh Stock Exchange despite the fact that decliners more than doubled the advancers.

The benchmark VN-Index inched 0.23 percent up at 566.89 points, but the market condition was negative with 148 shares tumbling, 63 climbing and 90 closing flat.

Only five of the top 30 shares by market capitalisation and liquidity advanced, pushing the VN30 down 0.38 percent to stand at 608.59 points.

Gains of PV Gas (GAS) and Masan Group (MSN) helped cushion the market, however. GAS increased 2.9 percent to 107,000 VND (5.07 USD) a share while MSN went up 1.5 percent to close at 98,500 VND (4.67 USD).

Overall trading was sluggish as both market volume and value were down 30 percent, totalling 79.4 million shares worth nearly 1.16 trillion VND (55 million USD).

Real estate FLC Group (FLC) was again the most active code with 13.86 million shares exchanged, but the price dived 5.5 percent to end at 10,400 VND a share.

Securities shares on the two exchanges went into decline on June 11 after a two-day rally. This followed information that foreign holdings in securities companies could be increased in the near future.

Shares in Saigon Securities Inc (SSI), HCM Securities Co (HCM) on the HCM City's exchange, Kim Long Securities (KLS) and VNDirect Securities (VND) on the Hanoi exchange all dropped from 3.3-5.8 percent.

On the Hanoi Stock Exchange, the HNX-Index lost 0.88 percent to close at 74.95 points as the losers doubled the gainers.

Blue chips were the main drag with the HNX30 down 1.26 percent to 149.58 points.

Trading was sluggish as the market volume and value fell 40 percent to nearly 42 million shares worth 460 billion VND (21.8 million USD).

Without support information, FLC Joint Venture Global Investment JSC (KLF) surprised the market to become the most active code on the northern bourse on trades of 6.4 million shares. However, they dipped 1.8 percent to close at 11,100 VND a share. Foreign investors continued to collect shares on both markets. They were responsible for a total net buy value of 58.43 billion VND (2.8 million USD).-VNA
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