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SAB and ROS push HCMC bourse down
Pham Vu
Thursday,  Sep 28, 2017,21:18 (GMT+7)

SAB and ROS push HCMC bourse down

Pham Vu

HCMC – The HCMC bourse continued its losing streak on September 27, triggered by SAB and ROS losses, while the Hanoi exchange retreated from five consecutive days of gains due to losses of key stocks.

The VN-Index of the Hochiminh Stock Exchange (HOSE) edged down 0.2% to 803.77 points with 157.4 million shares worth nearly VND3.4 trillion traded. Of which, put-through deals accounted for 34.12 million shares with a total value of VND1.4 trillion.

Like in the first two sessions of the week, SAB of Saigon Beer - Alcohol - Beverage Corporation, the country’s leading brewery, and ROS of Royal Securities Corporation remained the major drags on the main stock index. SAB sagged 1.16% at VND255,000 per share and ROS lost 6.38% at VND112,900 per share.

There were 18 VN30 blue-chip stocks falling and just nine others managing to make gains, thus putting pressure on the stock market. The VN30-Index ended down 2.74 points, or 0.35%, to 788.31.

The HCMC bourse might have tumbled further if VIC of Vingroup Joint Stock Company and GAS of PetroVietnam Gas Joint Stock Corporation had not made gains. VIC hit a new high of VND51,100 per share, up 3.44% against the previous day, with 1.61 million shares matched, and GAS rose 1.73% with half a million shares changing hands.

In early morning trade, VIC shot up to its record high, helped by news that a couple of its affiliates would list on the stock market. But it alone could not help prop up the market which was dragged down by the losing blue-chip stocks.

As buying was weak while selling was strong, the VN-Index could not make a turnaround in the first hour of the afternoon trade despite active VIC transactions.

Like HOSE, the Hanoi Stock Exchange (HNX) closed down 0.36% to 107.52 points, with 14.32 million shares worth VND387.97 billion traded.

ACB of the Asia Commercial Bank was mainly responsible for the HNX fall. Having won for four consecutive sessions, ACB dropped 1.6% at VND30,100 per share, with 1.15 million shares transacted.

The Hanoi bourse also saw oil/gas stocks faltering, such as PVS with a decline of 1.2%, PVC with a fall of 2.8%, PGS with a drop of 2.6% and PVB with a slump of 1.2%.

The market for unlisted public firms (UPCoM) managed to stay buoyant in early trade but within half an hour of early afternoon trade, it began dipping. At the end of the day, the UPCoM-Index inched 0.16% lower at 54.18 points with trading volume reaching 4.88 million shares worth VND84.26 billion.

SWC of Southern Waterborne Transport Joint Stock Corporation (SOWATCO) and GEX of Vietnam Electrical Equipment Joint Stock Corporation (Gelex) took the lead by trading volume on UPCoM. SWC rose a slight 0.74% with 630,300 shares changing hands and GEX moved down 2.22% with 618,400 shares traded.

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