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Friday,  Dec 15,2017,19:12 (GMT+7)

Stocks on HCMC bourse continue falling but at slower pace

Pham Vu
Wednesday,  Sep 27,2017,22:25 (GMT+7)
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Stocks on HCMC bourse continue falling but at slower pace

Pham Vu

HCMC – Stock losses on the HCMC bourse extended on September 26 given the selling pressure but they were not as strong as the day before. Meanwhile, stocks on the Hanoi exchange were still in positive territory.

Though sell orders remained robust, an improvement in cash flow on the Hochiminh Stock Exchange (HOSE) helped prevent the VN-Index from falling as sharply as on Monday. In early trade, transactions were lackluster as investors remained hesitant after the market’s poor performance a day earlier.

This was why the rise of sell orders at lower prices drove the key stock index away from the 805-point mark. But a pickup in transactions at the end of the day, especially those of key bank and oil/gas stocks, eased the index’s loss.

The HCMC exchange saw 122 stocks advancing and 147 others losing, and the VN-Index declined 0.03% at 805.35 points on September 26. The volume of HOSE matched transactions amounted to 155.5 million shares, up 23.38% against the day before, and their value reached VND3.2 trillion, up 16%. 

Oil/gas stocks propped up the VN-Index, with GAS edging up 1.5% at VND69,500 per share. Other key advancers on the HCMC exchange were VNM, VCB, STB, VIC and MSN. Surprisingly, MSN of Masan Group Corporation made a turnaround after a long losing streak, inching up 2.6% at VND55,900 per share.

The stocks which pushed down the index included ROS, SAB, BHN, VJC, PLX, VPB, BVH and HPG. In particular, SAB of Saigon Beer-Alcohol-Beverage Corporation slid 1.3% at VND258,000 per share and ROS of FLC FAROS Construction Joint Stock Company dipped a staggering 6.2% to VND112,800 per share.

Other stocks in the same sector as ROS closed down as well, such as FLC, FIT and AMD. FIT hit its floor price at VND11,000 per share, with 9.27 million FIT shares matched and more than two million shares still unsold. FLC took the lead in terms of liquidity with 12.93 million shares changing hands at VND7,410 per share, down 0.8% from the day earlier.

Actively traded stocks like HAG, HNG, HAR and HAI rallied. HAI of HAI Agrochem Joint Stock Company gained 1.5% at VND10,150 per share, with 7.8 million shares traded. HAR of An Duong Thao Dien Real Estate Trading Investment Joint Stock Company  advanced 2.8% at VND14,600 per share with 2.47 million shares transacted.

On the Hanoi Stock Exchange, oil/gas stocks were also the main support of the HNX-Index which has rallied for a fifth session in a row. The index added 0.53% at 107.91 points.

Trading volume totaled 66.48 million shares worth VND694.93 billion, up 6.62% and 8.99% against a day earlier respectively. Put-through deals amounted to 13.5 million shares valued at VND254 billion.

The market for unlisted public firms, UPCoM, ended down 0.3% at 54.26 points with 3.9 million shares worth VND73.4 billion changing hands.

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