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Thursday,  Dec 14,2017,15:14 (GMT+7)

Stocks take nosedive

Phuong Thao
Wednesday,  Dec 6,2017,23:47 (GMT+7)
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Stocks take nosedive

Phuong Thao

HCMC – The HCMC bourse came under profit taking pressure on December 5, with the VN-Index making the biggest single-day loss since August.

Closing the session, the main index shed 16.72 points, or 1.09%, at 953.3 as decliners far outnumbered advancers by 189 to 102. Trading volume on the HCMC market fell a slight 1.8% at 264.9 million shares while value gained 17.9% compared to the previous day at VND7.3 trillion.

The VN30 basket saw up to 26 stocks falling, with the VN30 Index losing 22.37 points at 944.07. Among key losers, lender VCB lost 2.6% at VND48,100 per share, securities firm SSI declined 3.1% at VND28,200 a share and pharmaceutical enterprise DHG fell 3.4% at VND106,000 per share.

However, the basket still strongly attracted cash flow as up to 18 stocks reported matching volumes of over one million shares each. Sugar firm SBT saw 10.7 million shares changing hands, followed by bank stock MBB with over seven million shares and SSI with 6.5 million shares.

Many large caps also retreated after recent gains. Dairy firm VNM slid 2% at VND190,000 per share while construction firm ROS plummeted 6.2% at VND157,500 per share.

VIC, a leading property company, slumped 4.1% at VND73,000 per share after a long rising streak. Its affiliate VRE, which is active in the retail sector, dropped 3% at VND48,000 a share on matching volume of over 1.9 million shares.

Realty firm FLC again took the lead for liquidity with over 18 million shares but it decreased 2.8% at VND6,850 per share.

Meanwhile, the rubber sector bucked the trend, with CSM, DRC and SCR hitting the ceiling prices. Notably, DRC and CSM saw matching volumes rising to 2.2 million shares and 1.68 million shares respectively.

The HNX-Index saw the strongest drop since August 2015, losing a hefty 3.48 points, or 2.98%, at 113.23. There were 82.7 million shares worth VND1.1 trillion exchanged on the Hanoi market, down 9.4% and 15.3% versus the previous session respectively.

SHB was the most liquid stock with 22.9 million shares traded but the lender tumbled 5.2% at VND9,100 a share. Petroleum technical service firm PVS reported matching volume of over six million shares, losing 3.1% at VND19,000 a share, while property stock HUT declined 4.1% at VND11,800 a share.

Foreigners were net buyers on the southern bourse for net purchasing VND151.7 billion worth of shares. Meanwhile, they net sold nearly VND11 billion on the northern exchange.

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