Benchmarks lose as liquidity rises
Shares closed lower on both the national stock exchanges on February 7, though liquidity rose.
Shares closed lower on both the national stock exchanges on February 7, though liquidity rose.
On the Ho Chi Minh City Stock Exchange, nearly 125 million shares changed hands with a total trading value of 2.37 trillion VND (1.12 billion USD).
In the northern bourse, the total trading value reached 621 billion VND (29.5 million USD) with 80 million shares traded. These figures were 30 percent higher than February 6 trading and set new highs in liquidity.
The VN-Index lost 0.89 percent to end at 549.76 points on February 7. Although the benchmark index managed to increase during the opening trading hours, selling pressure started in the late morning trading session and intensified in the afternoon, causing the index to drop.
This was the second consecutive trading session when sell-offs occurred, as investors aimed to take profits at the beginning of the Year of the Horse.
Also, transactions were strong, especially for speculative stocks, with a steady flow of capital into the market.
Further, nineteen of the southern bourse's 30 largest stocks, by capitalisation and liquidity, decreased on February 7.
Despite Kinh Do's (KDC) gains to its ceiling price and the rise in the shares of Hoa Sen Group (HSG), Hoang Anh Gia Lai (HAG), Eximbank (EIB), and PetroVietnam Fertilisers, as well as Chemmicals Corporation (DPM) and HCM City Infrastructure Investment Corporation (CII), the VN30-Index lost 0.56 percent to end the day at 622.82 points.
Losers included Bao Viet Group (BVH), falling 3.3 percent to 46,300 VND (2.2 USD) per share, Masan Group (MSN) closing 1,500 VND (0.07 USD) lower, and FTP Group (FPT) and Vingroup (VIC), decreasing 1,000 VND (0.049 USD) per share each.
Overall, on the southern bourse, shares of 94 companies increased while 125 lost.
Tan Tao Group (ITA) led the bourse in liquidity as 7.9 million shares changed hands.
On the northern bourse, the HNX-Index dropped 0.35 percent to close at 74.78 points on February 7 while the HNXFF-Index, which is composed of stocks with a minimum free-float rate of 5 percent, slid 0.32 percent to 74.1 points.
Tracking the capital city's top 30 shares by capitalisation and liquidity, the HNX30-Index ended at 146.53 points, 0.21 percent lower.
Meanwhile, PetroVietnam Construction Joint Stock Corporation (PVX) led the capital city in capitalisation, with 27.1 million shares traded.
After being net sellers on the market on February 6, foreign investors returned as net buyers with a capital of 50.89 billion VND (2.42 million USD).
According to the Vietnam Investment Securities, the market was bullish about midcaps and stocks in the profitable sectors, rather than blue chips or penny groups.
The company said the selling pressure would continue and the VN-Index might decrease to 520 points to prepare for a new round of increases.-VNA
On the Ho Chi Minh City Stock Exchange, nearly 125 million shares changed hands with a total trading value of 2.37 trillion VND (1.12 billion USD).
In the northern bourse, the total trading value reached 621 billion VND (29.5 million USD) with 80 million shares traded. These figures were 30 percent higher than February 6 trading and set new highs in liquidity.
The VN-Index lost 0.89 percent to end at 549.76 points on February 7. Although the benchmark index managed to increase during the opening trading hours, selling pressure started in the late morning trading session and intensified in the afternoon, causing the index to drop.
This was the second consecutive trading session when sell-offs occurred, as investors aimed to take profits at the beginning of the Year of the Horse.
Also, transactions were strong, especially for speculative stocks, with a steady flow of capital into the market.
Further, nineteen of the southern bourse's 30 largest stocks, by capitalisation and liquidity, decreased on February 7.
Despite Kinh Do's (KDC) gains to its ceiling price and the rise in the shares of Hoa Sen Group (HSG), Hoang Anh Gia Lai (HAG), Eximbank (EIB), and PetroVietnam Fertilisers, as well as Chemmicals Corporation (DPM) and HCM City Infrastructure Investment Corporation (CII), the VN30-Index lost 0.56 percent to end the day at 622.82 points.
Losers included Bao Viet Group (BVH), falling 3.3 percent to 46,300 VND (2.2 USD) per share, Masan Group (MSN) closing 1,500 VND (0.07 USD) lower, and FTP Group (FPT) and Vingroup (VIC), decreasing 1,000 VND (0.049 USD) per share each.
Overall, on the southern bourse, shares of 94 companies increased while 125 lost.
Tan Tao Group (ITA) led the bourse in liquidity as 7.9 million shares changed hands.
On the northern bourse, the HNX-Index dropped 0.35 percent to close at 74.78 points on February 7 while the HNXFF-Index, which is composed of stocks with a minimum free-float rate of 5 percent, slid 0.32 percent to 74.1 points.
Tracking the capital city's top 30 shares by capitalisation and liquidity, the HNX30-Index ended at 146.53 points, 0.21 percent lower.
Meanwhile, PetroVietnam Construction Joint Stock Corporation (PVX) led the capital city in capitalisation, with 27.1 million shares traded.
After being net sellers on the market on February 6, foreign investors returned as net buyers with a capital of 50.89 billion VND (2.42 million USD).
According to the Vietnam Investment Securities, the market was bullish about midcaps and stocks in the profitable sectors, rather than blue chips or penny groups.
The company said the selling pressure would continue and the VN-Index might decrease to 520 points to prepare for a new round of increases.-VNA
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