Shares mixed on changing money inflow
Shares tumbled for a third straight day on the Ho Chi Minh Stock Exchange on December 7 but rose on Hanoi’s bourse as money inflow channelled into small- and mid-cap stocks.
An investor watches share prices on an electronic board at Bao Viet Securities Co. (Photo: VNA)Hanoi (VNS/VNA) - Shares tumbled for a third straight day on the Ho Chi Minh Stock Exchange on December 7 but rose on Hanoi’s bourse as money inflow channelled into small- and mid-cap stocks.
On the HCM Stock Exchange, the VN-Index slid 0.95 percent to close December 7 at 938.65 points, extending a three-day loss to 3.25 percent.
Selling pressure was maintained in leading stocks including Vinamilk (VNM), down 4.6 percent; brewer Sabeco (SAB), down 2.6 percent; VinGroup (VIC), down 1.4 percent; VPBank (VPB), down 2.2 percent; Tien Phong Plastics (NTP), down 2.8 percent; and Vietcombank (VCB), down 0.8 percent.
The VN-Index would have dropped further without the cushion of blue chips such as private equity firm Masan Group (MSN), PV Gas (GAS), insurer Bao Viet Holdings (BVH), FLC Faros Construction (ROS) and lender BIDV (BID) with growth of between 0.6-1.8 percent each.
“The good news was that instead of fluctuating along the market, small- and mid-cap stocks were actively trading and attracting investors’ cash flow,” analysts at BIDV Securities Co wrote in a report on December 7, indicating the balanced number of losing and gaining stocks.
About 142 stocks advanced on the HCM City’s market on December 7 while 132 declined. Another 73 closed flat.
Both the VN-Midcap and VN-Smallcap increased 0.6 percent while the VN30 which tracks the top 30 largest shares by market value and liquidity fell 1.1 percent.
Substantial small- and mid-cap stock gainers on Thursday included Vinacafe Bien Hoa (VCF), Power Construction No 1 (PC1), Vinh Hoan Corp (VHC) and Hoa Binh Construction Group (HBC) and CMC Corp (CMG), with growth of 4-7 percent each.
However, liquidity tended to weaken, showing investors’ hesitation towards the negative trend of the market.
December 7 was the second day liquidity declined with nearly 197 million shares worth 4.75 trillion VND (208.3 million USD) traded on the southern market, down 19 percent in trading volume and 23 percent in trading value compared to the previous session.
“We believe that the small and medium caps which had recovered will help stabilise investor sentiment. In the upcoming sessions, the VN30 might recover after decreasing recently,” BIDV Securities Co’s analysts said.
On the Hanoi Stock Exchange, the HNX-Index rallied for a second day, up 1.02 percent to end December 7’s trade at 114.53 points with nearly 54 million shares worth 801 billion VND traded.-VNA
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