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VN-Index dips to below 800 points
Phuong Thao
Wednesday,  Oct 4, 2017,18:01 (GMT+7)

VN-Index dips to below 800 points

Phuong Thao

HCMC – The local stock market declined further yesterday as investors continued offloading shares, pushing the VN-Index down 4.23 points, or 0.53%, at 798.

Among large caps, SAB was among the biggest drag as the leading brewery stock dropped 0.5% at VND256,800 a share. Meanwhile, lender BID increased 0.8% at VND19,850 per share while property giant VIC gained 0.2% at VND51,000 each.

Turnover on the HCMC exchange improved strongly given high selling pressure, with volume and value gaining 35.8% and 17.9% to 162.2 million shares worth VND3.2 trillion. There were 41 stocks reporting matching volume over one million shares, in which only five stocks managed to advance.

FLC, a real estate company, took the lead for liquidity with over 13 million shares exchanged. However, the stock lost 0.8% at VND7,200 a share.

Having plunged to the floor price for six sessions in a row, FIT saw better demand yesterday. The financial investment firm still closed at a 5.6% loss, standing at VND7,800 a share on volume of 11.1 million shares.
HAR bucked the trend to hit the upper limit with 660,000 shares changing hands. Earlier, the property trading firm had announced to divest capital out of some companies.

The Hanoi market narrowed its downtrend at the end of the day as some pillar stocks slightly recovered. The HNX-Index closed the session at 106.53, down 0.91% against the previous day.

Bank stock ACB declined sharply early before bouncing back thanks to bottom fishers. It lost 0.1% at VND30,300 a share at the close and reported matching volume of 1.36 million shares.

There were 52.1 million shares worth VND581 billion traded on the northern bourse, up 2.7% and 26.4% versus Monday respectively, including over VND5.2 billion worth of shares transacted via bloc deals. Notably, none of the 10 volume leaders on the northern bourse advanced.

KLF was the most actively traded stock with over 10 million shares exchanged. After five consecutive days plunging to the floor prices, the trading and food service firm lost an additional 0.2% at VND3,700 a share.

Construction firm PVX and lender SHB ranked next for liquidity with 8.7 million shares and 6.4 million shares respectively. Two stocks still decreased despite better demand in the afternoon phase.

Foreigners stayed on the selling sides on both exchanges, net selling VND5.9 billion on the southern market and VND15.6 billion on the northern bourse.

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