A recovery in blue chips in the final minutes of yesterday's session on the HCM City Stock Exchange saved the market from registering another decline, allowing the VN-Index to end the day up marginally at 508.68 points, an increase of 0.24 percent over Monday's close.
The value of trades continued to fall, however, dropping by 18 percent to 1.19 trillionVND (62.6 million USD), on a volume of 37.6 million shares.
Vinamilk (VNM), Hoang Anh Gia Lai Co (HAG), Kinh Bac City Development Share Holding Corp (KBC), PetroVietnam Finance (PVF), Phu My Fertiliser (DPM) and Tan Tao Investment Industry Corp (ITA), all picked up value by the end of the session, with ITA closing as the most heavily-traded share on a volume of over 2.5 million traded.
Banking shares all tumbled, on the other hand, with Vietinbank (CTG), Eximbank (EIB) and Sacombank (STB) all seeing a loss of value on the day.
The southern market welcomed new listings by Petroleum Pipeline and Tank Construction Co (PXT) and Song Ba Co (SBA). PXT shares dropped 20 percent from their reference price to 25,600 VND (1.35 USD) on a volume of 412,120, while SBA fell 18.75 percent to 13,000 VND (0.68 USD) on a volume of 311,320 shares.
On the Hanoi Stock Exchange, the HNX-Index opened the new month with a declining session, the HNX-Index dropping by 0.42 percent to close at 162.91. The volume of the day's trades increased slightly to 31.6 million shares, worth a total of 1 trillion VND (52.6 million USD), putting the Hanoi market close to parity with HCM City 's in terms of activity on the day.
The northern bourse opened in positive territory but failed to sustain gains as investors turned cautious on the volatile market development. While construction giant Vinaconex (VCG) advanced by 3 percent during the session, PetroVietnam Construction (PVX) – the most-active share on a volume of 3.5 million – slid by 2.68 percent. Nine other major codes tumbled.
June 1 marked the first day of trading for the shares of Vinh Phuc Infrastructure Development Co (IDV), which became the 296th code on the northern board. IDV closed its first day of trades at 44,200 VND (2.33 USD) on a volume of just 5,400 shares.
Financial expert Nguyen Anh Dung noted that institutional investors were preferring high-value shares and predicted blue chips would rebound strongly if investors received good supporting information.
"However, it will be difficult for the market to see a breakthrough in June as supporting news will not be plentiful this month," he added.
Foreign investors continued to be net buyers on both national stock exchanges, responsible for a net buy of more than112 billion VND (5.9 million USD) worth of shares. They continued to focus interest on blue chips like Hoang Anh Gia Lai Co (HAG), Saigon Securities Inc (SSI) and Vietinbank (CTG)./.
The value of trades continued to fall, however, dropping by 18 percent to 1.19 trillionVND (62.6 million USD), on a volume of 37.6 million shares.
Vinamilk (VNM), Hoang Anh Gia Lai Co (HAG), Kinh Bac City Development Share Holding Corp (KBC), PetroVietnam Finance (PVF), Phu My Fertiliser (DPM) and Tan Tao Investment Industry Corp (ITA), all picked up value by the end of the session, with ITA closing as the most heavily-traded share on a volume of over 2.5 million traded.
Banking shares all tumbled, on the other hand, with Vietinbank (CTG), Eximbank (EIB) and Sacombank (STB) all seeing a loss of value on the day.
The southern market welcomed new listings by Petroleum Pipeline and Tank Construction Co (PXT) and Song Ba Co (SBA). PXT shares dropped 20 percent from their reference price to 25,600 VND (1.35 USD) on a volume of 412,120, while SBA fell 18.75 percent to 13,000 VND (0.68 USD) on a volume of 311,320 shares.
On the Hanoi Stock Exchange, the HNX-Index opened the new month with a declining session, the HNX-Index dropping by 0.42 percent to close at 162.91. The volume of the day's trades increased slightly to 31.6 million shares, worth a total of 1 trillion VND (52.6 million USD), putting the Hanoi market close to parity with HCM City 's in terms of activity on the day.
The northern bourse opened in positive territory but failed to sustain gains as investors turned cautious on the volatile market development. While construction giant Vinaconex (VCG) advanced by 3 percent during the session, PetroVietnam Construction (PVX) – the most-active share on a volume of 3.5 million – slid by 2.68 percent. Nine other major codes tumbled.
June 1 marked the first day of trading for the shares of Vinh Phuc Infrastructure Development Co (IDV), which became the 296th code on the northern board. IDV closed its first day of trades at 44,200 VND (2.33 USD) on a volume of just 5,400 shares.
Financial expert Nguyen Anh Dung noted that institutional investors were preferring high-value shares and predicted blue chips would rebound strongly if investors received good supporting information.
"However, it will be difficult for the market to see a breakthrough in June as supporting news will not be plentiful this month," he added.
Foreign investors continued to be net buyers on both national stock exchanges, responsible for a net buy of more than112 billion VND (5.9 million USD) worth of shares. They continued to focus interest on blue chips like Hoang Anh Gia Lai Co (HAG), Saigon Securities Inc (SSI) and Vietinbank (CTG)./.
