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Friday,  Aug 18,2017,23:42 (GMT+7)

Foreigners spur transactions

Phuong Thao
Friday,  Jun 16,2017,23:40 (GMT+7)
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Foreigners spur transactions

Phuong Thao

HCMC – The local stock market corrected given strong profit taking pressure on June 15 but active foreign trading did save the VN-Index from making a steep fall.

Foreigners net bought 7.1 million shares worth VND252.4 billion on the HCMC market, up a slight 1.7% in volume but down 5.7% in value compared to the previous session. Notably, the investors focused on HPG shares.

The steel maker saw its matching volume hitting a four-month high at 11.7 million shares, with foreigners net purchasing over 4.5 million shares. HPG closed the day up 2.5% at VND32,450 a share, marking the third winning session in a row.

According to tinnhanhchungkhoan.vn, the foreign net purchase at HPG was a surprise as the exchange traded fund V.N.M expected to net sold US$3.16 million worth of HPG shares in the second portfolio rebalancing. The enterprise has also chosen today as the ex-dividend date to issue additional shares at a 5-for-1 ratio.

HPG’s strong performance lifted up stocks in the VN30 basket. However, the VN-Index failed to go back to the reference level as many large caps made negative moves.

The main index closed almost flat, dipping 0.02% from the previous day at 760.57. Turnover on the southern market slid slightly with 193 million shares worth VND4 trillion changing hands, including bloc deals valued at over VND810 billion.

In the banking sector, CTG and VCB increased while BID, MBB and STB declined. BID reported matching volume of 5.8 million shares, followed by STB with over three million shares, CTG and VCB with 2.8 million shares and MBB with 1.6 million shares.

Among the top 10 leaders for market capitalization, property giant VIC and dairy firm VNM advanced but their gains were not strong enough to prop up the main index. Construction firm ROS plunged to the floor price for the second consecutive session, ending at VND104,300 a share on matching volume of over two million shares.

ROS’s associated enterprises AMD and FLC also performed poorly. AMD closed at the floor price for the sixth straight session since ROS’s announcement to buy its 25% stake while FLC fell for the third consecutive day at VND7,120 per share with nearly 8.2 million shares exchanged.

On the Hanoi market, the HNX-Index lost a slight 0.11% at 97.78 with turnover slumping 15% to VND492.5 billion. Many pillar stocks such as SHB, ACB, PVS and PVC declined.

Among nine stocks with matching volume from one million shares, only construction firm VCG and brokerage SHS managed to rise. Among banking stocks, SHB closed at the reference price and took the lead for liquidity with 10.3 million shares while ACB dropped slightly on volume of two million shares.

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