Business

VN-Index up as divestment disappoints

Shares bounced back slightly on December 8 on the HCM Stock Exchange but slipped on the Hanoi bourse, affected by the somber result of the State Capital Investment Corporation’s (SCIC) divestment from Vinaconex.
VN-Index up as divestment disappoints ảnh 1An investor passes electronic stock boards at Tân Việt Securities Inc. (Photo: VNA)

Hanoi (VNA) - Shares bounced back slightly on December 8 on the HCM StockExchange but slipped on the Hanoi bourse, affected by the somber result of theState Capital Investment Corporation’s (SCIC) divestment from Vinaconex.

The VN-Indexon the HCM Stock Exchange inched up 0.16 percent to close the day’s trade at940.16 points after a 3.3-per-cent three-day loss.

Many largecaps recovered on the day and lifted the southern market index.

Overall, 15of the top 30 largest shares by market value and liquidity advanced and 11declined.

The biggestlisted company Vinamilk (VNM) gained 1.13 percent, settling at 188,100 VND (8.25USD) per share, while the real estate giant VinGroup (VIC) and its retail armVincom Retail (VRE) increased 1.4 percent and 2.2 percent, respectively.

Otherleaders also included Masan Group (MSN), up 4.2 percent; Petrolimex (PLX), up2.3 percent; insurer Bao Viet Holdings (BVH) and budget airline Vietjet, up 1.8percent each.

Among thelaggards were brewers Sabeco (SAB) and Habeco (BHN), Vietcombank (VCB),Vietinbank (CTG), FPT Corp (FPT) and steelmaker Hoa Phat Group (HPG).

On the HanoiStock Exchange, the HNX-Index edged down 0.63 percent to end at 113.81 pointsafter a two-day rally.

Thedisappointing results of the capital divestiture of SCIC from the VietnamConstruction and Import-Export Corp (VCG), better known as Vinaconex, hurt VCGstock as well as other stocks that are part of SCIC’s divestment plans,including Binh Minh Plastic (BMP) and Tien Phong Plastics, scheduled fordivestment at the end of this year. Investors bought only 5.6 percent of theVCG shares offered at the auction on the day.

Vinaconex’sshares dropped by 10 percent to 24,800 VND per share. They had risen 40 percentin the past month thanks to the SCIC’s divestment scheme.

Meanwhile,BMP and NTP fell 3.5 percent and 4.5 percent, respectively.

Liquidityremained modest compared to the previous sessions, with 245.6 million sharesworth combined 5.9 trillion VND (259 million USD) being traded in the twomarkets. - VNA
VNA
#shares #HCM Stock Exchange #State Capital Investment Corporation #divestment #VN-Index #Vinaconex #vietnamplus
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