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Turnover drops to 1-month low

Phuong Thao
Tuesday,  Oct 3,2017,17:26 (GMT+7)
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Turnover drops to 1-month low

Phuong Thao

HCMC – Turnover on the HCMC market plunged to a one-month low because of investor caution yesterday while the VN-Index extended losses to the second straight session.

Closing the day, there were 119.4 million shares worth VND2.7 trillion changing hands, down 18.5% and 23.5% against last Friday respectively. Meanwhile, the VN-Index fell a slight 2.19 points, or 0.27%, at 802.23.

Among four volume leaders on the southern bourse, only steelmaker HPG managed a mild increase while property stocks FLC, HQC and DXG closed in the red. FLC was the most actively traded stock with 7.5 million shares while DXG was the biggest loser, falling 3.5% at VND20,200 a share.

For speculative stocks, HAI, an agricultural chemical company, closed at the floor price of VND7,610 a share on volume of 3.2 million shares. FIT, which is active in finance and consulting sectors, also plunged to the floor price with 3.7 million shares traded.

Among brewery stocks, BHN stayed at the ceiling price of VND133,400 a share during the day with more than 44,000 shares exchanged. In contrast, SAB declined nearly 2% at VND258,000 per share on modest turnover.
On the Hanoi market, the HNX-Index lost 0.13% versus the session earlier at 107.51. Turnover slid 16.9% in volume and 11.4% in value to 51.9 million shares worth VND468 billion.

KLF, a trading and food service enterprise, again took the lead for liquidity with nine million shares exchanged. The stock gained 2.6% at VND3,900 per share.

Construction firm PVX led decliners, plunging to the floor price of VND2,500 a share on volume of over eight million shares. HNK, a food and agricultural company, also closed at the floor price of VND2,800 per share with 1.7 million traded.

Meanwhile, mining firm SPI was among top gainers as it shot up to the upper limit of VND5,900 a share on volume of 1.5 million shares.

Among large caps, lender SHB and petroleum technical service firm PVS moved sideways on volume of 5.8 million shares and 3.4 million shares respectively. VGC, a building material manufacturer, inched up 0.8% at VND23,000 per share while bank stock ACB declined.

Foreigners net bought over VND45.8 billion on the southern bourse. However, the investors shifted to the selling side on the northern market, net selling VND17.5 billion worth of shares.

According to vietstock.vn, the losing streak may extend further today as the cash flow remained weak. Investors should avoid buying new stocks in the following sessions.

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