Blue chips cushion blow of gas price hike
Hike in petroleum prices had negative impacts on the stock market but
rallies of several large-cap shares helped rescue the market from a hard
fall.
Hike in petroleum prices had negative impacts on the stock market but
rallies of several large-cap shares helped rescue the market from a hard
fall.
On the Hochiminh Stock Exchange, the VN-Index fluctuated but eventually inched up 0.13 percent to close the July 8 session at 591.47 points despite decliners outnumbering advancers by 104-88. Other 110 closed flat.
Modest increases of three major shares including PV Gas (GAS), Masan Group (MSN) and VinGroup (VIC) was the main momentum of the market. These shares rose just 0.5-0.9 percent. However, as the majority of the top 30 shares by market value and liquidity lost value, the VN30 still slipped 0.08 percent to end at 636.21 points.
Liquidity declined with the market volume down 25 percent from the previous session to nearly 97 million shares and fund certificates while the value of trades went down 30 percent, totaling 1.487 trillion VND (70.5 million USD).
Realty stocks were the most heavily-traded on the southern bourse, led by FLC Group (FLC) with 9.4 million shares, climbing 1.6 percent to close at 12,800 VND a share.
Tan Tao Investment Industry Corp (ITA) came second with a total volume of 6.5 million shares, closing flat at 8,500 VND each while Becamex Infrastructure Development Co (IJC) followed on trades of 3.5 million shares, jumping 3.8 percent to 13,700 VND.
Blue chips also supported the Hanoi Stock Exchange, with the HNX-Index adding 0.55 percent to end at 79.36 points although losers outnumbered gainers by 105-87. Other 166 were unmoved.
The main supporters were Sai Gon- Hanoi Bank (SHB), Sai Gon Thuong Tin Real Estate Co (SCR) and construction giant Vinaconex (VCG). SHB was also the most active stock on trades of 6.5 million shares. The share price climbed 2.2 percent to 9,400 VND each. The HNX30, the tracker of the top 30 stocks on the northern bourse, was also up 1.04 percent to stand at 162.05 points.
Trading declined, however, as the market volume dropped 10 percent from July 7, totalling over 51 million shares worth nearly 674 billion VND (3.3 million USD).
Foreign investors unexpectedly were net sellers on the HCM City's market after 16 consecutive net buying sessions. They unloaded shares worth nearly 51 billion VND (2.4 million USD). However, they remained net buyers on the Hanoi bourse, responsible for a net buy value of 17.6 billion VND (834,000 USD).-VNA
On the Hochiminh Stock Exchange, the VN-Index fluctuated but eventually inched up 0.13 percent to close the July 8 session at 591.47 points despite decliners outnumbering advancers by 104-88. Other 110 closed flat.
Modest increases of three major shares including PV Gas (GAS), Masan Group (MSN) and VinGroup (VIC) was the main momentum of the market. These shares rose just 0.5-0.9 percent. However, as the majority of the top 30 shares by market value and liquidity lost value, the VN30 still slipped 0.08 percent to end at 636.21 points.
Liquidity declined with the market volume down 25 percent from the previous session to nearly 97 million shares and fund certificates while the value of trades went down 30 percent, totaling 1.487 trillion VND (70.5 million USD).
Realty stocks were the most heavily-traded on the southern bourse, led by FLC Group (FLC) with 9.4 million shares, climbing 1.6 percent to close at 12,800 VND a share.
Tan Tao Investment Industry Corp (ITA) came second with a total volume of 6.5 million shares, closing flat at 8,500 VND each while Becamex Infrastructure Development Co (IJC) followed on trades of 3.5 million shares, jumping 3.8 percent to 13,700 VND.
Blue chips also supported the Hanoi Stock Exchange, with the HNX-Index adding 0.55 percent to end at 79.36 points although losers outnumbered gainers by 105-87. Other 166 were unmoved.
The main supporters were Sai Gon- Hanoi Bank (SHB), Sai Gon Thuong Tin Real Estate Co (SCR) and construction giant Vinaconex (VCG). SHB was also the most active stock on trades of 6.5 million shares. The share price climbed 2.2 percent to 9,400 VND each. The HNX30, the tracker of the top 30 stocks on the northern bourse, was also up 1.04 percent to stand at 162.05 points.
Trading declined, however, as the market volume dropped 10 percent from July 7, totalling over 51 million shares worth nearly 674 billion VND (3.3 million USD).
Foreign investors unexpectedly were net sellers on the HCM City's market after 16 consecutive net buying sessions. They unloaded shares worth nearly 51 billion VND (2.4 million USD). However, they remained net buyers on the Hanoi bourse, responsible for a net buy value of 17.6 billion VND (834,000 USD).-VNA
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