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Stocks retreat after 4-day rallies

Phuong Thao
Friday,  Mar 2,2018,22:07 (GMT+7)
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Stocks retreat after 4-day rallies

Phuong Thao

HCMC – Intensifying profit taking pressure at banking stocks sank the local market on March 1, with the VN-Index giving up 5.75 points, or 0.51%, at 1,115.79.

All eight banks listed on the HCMC market lost ground but they still reported strong turnover. CTG turned the most actively traded stock with 20.6 million shares exchanged, falling 2.7% to VND32,700 per share, followed by STB with nearly 17.5 million shares.

VCB and BID were the top losers, both slumping 3.1% against the session earlier at VND71,500 and VND37,800 per share respectively. EIB extended loss for the second day, dipping 1.3% at VND15,300 a share.

Most speculative stocks declined, in which FLC was the volume leader with 4.2 million shares traded. VHG, a rubber firm, plunged to the floor price for the third straight session with 1.9 million shares traded.

Among gainers, securities firm SSI jumped 2.4% on matching volume of 8.9 million shares. Steelmakers HPG and HSG and property firm NVL also advanced with volume from one to six million shares each.

Trading volume on the southern bourse rose 2.2% from the previous day to 227.4 million shares but value decreased 6.7% to VND7.3 trillion. The put-through market saw 20.2 million shares worth VND920 billion transacted, including 4.7 million shares of NVL valued at VND389 billion.

On the Hanoi market, the HNX-Index fell 0.95 point, or 0.74%, at 127.1, with volume and value up 20.2% and 32% at 79.6 million shares worth VND1.38 trillion. Block deals contributed VND131.7 billion to the total turnover, including VND42.8 billion worth of 3.3 million shares of lender SHB.

SHB again took the lead for liquidity with more than 19 million shares traded but it tumbled 3.1%. PVS, a petroleum stock, lost 2.4% on matching volume of 6.1 million shares while lender ACB declined 2.1% with 5.3 million shares exchanged.

VCS, which is active in the industrial sector, hit the upper limit of VND54,800 a share as March 1 was the record date to issue shares for existing shareholders at VND12,000 each. Construction firm L14 also went up to the ceiling price of VND235,200 a share after presenting a dividend payment scheme at a ratio of 100%.

NBC, a mining enterprise, saw its matching volume jumping to five million shares. However, it slumped to the floor price of VND8,000 per share.

Foreigners turned active net sellers, net offloading VND167 billion on the HCMC market and VND31 billion on the Hanoi exchange.

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Giấy phép Báo điện tử số: 321/GP-BTTT, cấp ngày 26/10/2007
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