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Monday,  Feb 26,2018,02:35 (GMT+7)

Stocks undergo slight correction

Phuong Thao
Thursday,  Feb 1,2018,18:58 (GMT+7)
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Stocks undergo slight correction

Phuong Thao

HCMC – Stocks on the HCMC bourse came under selling pressure at the VN-Index’s resistance level of 1,120 points on January 31.

The index lost a mere 0.02% versus the previous session at 1,110.36 points. Bank stocks were behind the decline with BID slumping 5% at VND34,200 a share and CTG shedding 3% at VND27,200. STB remained the volume leader with nearly 26.2 million shares traded, down 5% versus Tuesday at VND16,250 per share.

The securities sector also performed poorly as SSI fell to an intraday low of VND34,100 a share, down 6.6% compared to the previous day. HCM declined 2.7% at VND80,800 a share and VND slumped 5.4% at VND30,000 a share.

GAS, the leading firm in the oil and gas sector, edged up to its ceiling price of VND124,600 a share with matching volume of nearly 2.3 million shares. Meanwhile, most fuel stocks came under profit taking pressure, with PVD plunging to the floor price of VND27,450 per share and PLX sliding 1.1% at VND88,500 a share.

Large-cap stocks also closed mixed, with construction firm ROS shooting up to its ceiling price of VND174,400 per share with nearly 1.2 million shares changing hands while dairy giant VNM fell 0.5% at VND203,500 per share. VJC, a low-cost carrier, lost 1% at VND193,000 a share and insurer BVH tumbled 4.3% to the intraday low of VND82,000 per share.

The HCMC exchange saw 350.7 million shares worth VND9.8 trillion transacted, up 4.7% in volume but down 5.7% in value against the day earlier. Property stocks reported active trading but most of them ended down.

The HNX-Index fell a hefty 1.47 points, or 1.15%, at 125.9. Turnover on the Hanoi market, however, improved sharply as volume and value jumped 18.7% and 23.7% versus Tuesday at 101 million shares worth VND2 trillion.

All petroleum stocks lost ground, in which PVS tumbled to the floor price of VND27,600 a share with matching volume of 16.7 million shares. PVC also closed at the floor price of VND11,100 per share and PVB slipped 4.4% at VND19,700 a share.

In the HNX30 basket, many stocks made significant losses, with VCG plunging 4.5% to an intraday low of VND25,400 a share. Property firm HUT lost 4.5% at VND10,600 a share and plastic company NTP fell 1.4% at VND67,000 per share.

Among bank stocks, ACB managed a 0.2% rise at VND41,700 per share. Meanwhile, SHB ended its nine-day winning streak, dropping 4.4% at VND13,000 a share, but still took the lead by liquidity with over 23 million shares traded.

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