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Tuesday,  Oct 17,2017,20:06 (GMT+7)

Stocks down for third straight day

Phuong Thao
Friday,  Sep 22,2017,21:42 (GMT+7)
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Stocks down for third straight day

Phuong Thao

HCMC – The local stock market declined for the third consecutive session on September 21, dragging the VN-Index down 1.93 points, or 0.24%, versus Wednesday at 803.93.

Trading volume on the HCMC market fell 7.8% against the previous session at 138.7 million shares but value improved 9.8% at VND3.5 trillion. The put-through market saw 7.9 million shares worth VND550.5 billion traded, including 2.5 million shares of the low-cost carrier VJC and 1.1 million shares of property firm NVL.

In the banking sector, VPB moved flat after a five-session losing streak while BID added 1.7% and CTG gained 1.5%. In contrast, property giant VNM and brewery firm SAB, the two biggest market drivers, were the biggest drag, losing 0.6% and 2.9% respectively.

According to tinnhanhchungkhoan.vn, the market has no supporting information now as investors are waiting for third-quarter financial reports of listed enterprises. However, some stocks have increased due to positive news.
Having obtained approval to raise foreign ownership limit to 75%, industrial firm FCN went up to the upper limit of VND22,800 a share after two days of falling. Its matching volume reached over 1.2 million shares, or 2.5 times higher than the average level in the recent 10 sessions.

HAR also hit the ceiling price with matching volume reaching a one-month high of over two million shares. The real estate trading enterprise has revised up 2017 revenue and after-tax profit goals by 25.6% and 40.5% to VND120 billion and VND26.5 billion respectively.

Property firm FLC remained the volume leader on the southern bourse with 11.3 million shares exchanged. The stock rose a slight 0.8% at VND7,730 per share.

The Hanoi market kept moving up with the HNX-Index climbing 0.54% at 105.7. There were 83.8 million shares worth VND779 billion exchanged, up 30.2% and 5% against the previous session.

Among bank stocks, ACB was the top contributor to the index for rising 1.1% on matching volume of nearly 1.4 million shares. Meanwhile, SHB saw strong profit taking pressure, dropping 1.2% with over 8.3 million shares traded.

KLF, a trading and food service firm, shot up to the ceiling price with volume hitting 24.6 million shares. Construction firm PVX also closed at the upper limit on volume of 12.3 million shares.

Foreigners turned net sellers on both exchanges, net selling VND12.9 billion on the southern market and VND11 billion on the northern bourse.

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