Business

PV Gas again lowers VN-Index

A PV Gas (GAS) slowdown once again dragged the VN-Index down below the psychological threshold of 580 points on July 2.
A PV Gas (GAS) slowdown once again dragged the VN-Index down below the psychological threshold of 580 points on July 2.

The company boasts the largest number of shares in term of market capitalisation.

Onthe Hochiminh Stock Exchange, GAS lost 1.8 percent to close at 109,000VND (5.17 USD), extending a negative impact on the VN-Index which inchedjust 0.13 percent to end the session at 578.80 points though there weretimes during the day when it went over 581 points.

Blue chipswere mixed. Dairy giant Vinamilk (VNM) jumped 2.46 percent and MasanGroup (MSN) climbed 1.09 percent, but Vietcombank (VCB), Hoa Phat Group(HPG), Gemadept (GMD), Eximbank (EIB), Vietinbank (CTG) and Phu MyFertiliser (DPM) declined substantially.

However, with risingliquidity and over half of the top 30 shares by market value ascendant,the VN30 still rose 0.36 percent to 620.20 points.

Trade valueimproved slightly over the previous session, totaling nearly 1.66trillion VND (78.7 million USD), while the market volume reached over109 million shares and fund certificates.

Real estate sharesattracted investors the most, with four of the five most active stocksbeing from this sector. These were the FLC Group (FLC), Tan TaoInvestment Industry (ITA), Hoang Quan Consulting Trading Service RealEstate (HQC) and Dat Xanh Real Estate Service & Construction (DXG).

FLC's stocks saw the highest trading, with 11.3 million shares jumping 4.39 percent over July 1 to end at 11,900 VND per share.

Stockson the Hanoi Stock Exchange continued to grow further on strengthenedinvestor confidence with the HNX-Index rising 1.05 percent to close thesession at 78.90 points.

The HNX30 tracking the top 30 shares bymarket value and liquidity on the bourse also climbed 1.58 percent toend at 160.69 points.

Trading was busy with the market volume wasup 70 percent over the previous session, totaling 77 million sharesworth 744.3 billion VND (35.3 million USD), 50 percent more than July 1value.

Speculative stock PetroVietnam Construction Corp (PVX) wasthe most active code with 4.7 million shares traded, leaping 2.33percent to close at 4,400 VND a share. The company has posted losses forthree consecutive years and is on the brink of leaving the market.

Foreigninvestors continued to be net buyers on both exchanges but their buyvalue decreased gradually. They picked up shares worth just 11.15billion VND (528,000 USD) on the HCM City market while buying sharesworth 36.34 billion VND (1.7 million USD) on the Hanoi bourse.-VNA
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