VN stocks pulled down by food, rubber hinh anh 1Illustrative photo (Source:Internet)
Hanoi (VNA) Vietnamese shares on March 18 mostly fell on both local markets, led by food and beverage producers, property developers and natural rubber companies.

The benchmark VN Index on the HCM Stock Exchange dropped 0.6 percent to close at 575.82 points, ending its gain of 0.9 percent over the last two sessions.

The HNX Index on the Hanoi Stock Exchange was nearly unchanged at 80.59 points, rallying 1.2 percent in the last three days.

Masan Group (MSN), sugar producer Thanh Thanh Cong JSC (SBT) and seafood maker Hung Vuong JSC (HVG) pulled the food and beverage sector down.

MSN dropped 1.4 percent after the company on March 17 announced that Masan may not pay last year’s dividend for its shareholders. MSN has fallen 4.7 percent in the last four sessions.

SBT slumped 6.8 percent despite Market Vectors Vietnam ETF (VNM ETF) adding the stock to their investment portfolio for the next quarter. SBT had rose 9.2 percent during the previous four trading days.

HVG lost 1.7 percent after the stock had increased 12 percent in the previous six days.

Among property developers, Vingroup JSC (VIC), Tan Tao Investment Industrial JSC (ITA), Kinh Bac City Development Share Holding Corporation (KBC) and Phat Dat Real Estate Development JSC (PDR) were the biggest losers.

VIC and ITA fell 2 percent each, KBC was down 1.6 percent and PDR slumped 3.5 percent.

Natural rubber producers on March 18 also helped drive the markets down as rubber prices on the Tokyo Commodity Exchange declined by 1.6 percent to trade at 176 JPY (1.58 USD) per kilogramme.

Hoa Binh Rubber JSC (HRC) dropped 2.4 percent, Tay Ninh Rubber JSC (TRC) lost 1.7 percent, and Quang Nam Rubber Investment JSC (VHG) was down 1.6 percent.

Plastic producers, however, lifted the markets. Binh Minh Plastic JSC (BMP) jumped 4.4 percent, Tien Phong Plastic JSC (NTP) gained 2.3 percent, and Rang Dong Plastic JSC (RDP) advanced 2.8 percent.

Both markets also received strong boosts from other large-cap stocks such as information and technology firm FPT Corporation (FPT), HCM City Securities Corporation (HCM), Bao Minh Insurance Corporation (BMI) and steel maker Hoa Sen Group (HSG).

Market liquidity on March 18 rose from the previous session’s figures as exchange-traded funds revised their investment portfolios for the next quarter, Bảo Việt Securities Corporation (BVSC) wrote in a report.

Both local markets traded nearly 283 million shares worth 4.58 trillion VND (203.7 million USD), an increase of more than one-third from March 17’s trading value.-VNA