Monday,  Jul 16, 2018,04:18 (GMT+7) 0 0
Market sheds over waning cash flow
Nguyen Hoang
Tuesday,  Sep 26, 2017,23:34 (GMT+7)

Market sheds over waning cash flow

Nguyen Hoang

HCMC - The main equity market opened the week down a tad on September 25, shedding 1.55 points at 805.58 on the VN-Index, as the cash flow remained weak despite the market rally over the weekend.

The stock markets moved inversely on September 25. While the southern Hochiminh Stock Exchange lost 0.19% to 805.58 points, the Hanoi peer continued its uptrend, with the HNX-Index rising 0.77% at 107.34.

The southern market opened the week in chaos, as the index swiftly lost 4.3 points, with the brewery stock SAB being the major drag as this stock lost as much as 6%, according to Stock prices tumbled across the board in the morning trade, prompting the VN-Index to fall to 805.35 points.

Volatility was still felt in the afternoon trade, and a majority of stocks remained in the red. Some major stocks like MSN, PLX, MWG, and BHN underpinned the market, but investor caution and thus weak cash flow checked the rise.

At the end of the day, the southern market saw 149.15 million shares changing hands with a total value of VND3,319.1 billion, falling by 15.6% and 17% respectively. Block deals totaled 23 million shares worth VND538.23 billion, reports.

Among the top five stocks by liquidity, only STB and DIG managed a slight rise, with the former rising 6.49% to VND12.300 a share with over seven million shares traded, and the latter increasing 1.57% at VND16,150 on a trading volume of 4.26 million shares. Meanwhile, the other three – namely FLC, FIT and ASM – tumbled. The property stock FLC, being the most traded stock with 11.16 million shares changing hands, lost 1.32%, FIT shed 4.45% with 6.93 million shares traded, and ASM lost a whopping 7.05% with over four million shares changing hands.

The market for unlisted public firms, UPCoM, had its index losing 0.12 point to 54.43 with 4.4 million shares traded at a value of VND84.7 billion, plus block deals of 2.26 million shares worth VND53.3 billion.

The Hanoi market performed much better, although the cash flow was weaker. The HNX-Index gained 0.82 point to 107.34. The market saw a matching volume of 62.35 million shares worth VND637.58 billion, falling by 32.18% and 34.75% respectively, while block deals totaled 1.97 million shares worth VND92.95 billion.

Foreign investors net sold over VND14 billion on the southern market and over VND72 billion on the northern bourse. The plastic stock NTP stole the limelight as foreign investors net sold over VND75 billion, probably due to an earlier announcement by the Thai investor Nawaplastic Industries to divest over 21 million NTP shares.

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