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Tuesday,  Apr 24,2018,00:23 (GMT+7)

Stocks correct slightly

Phuong Thao
Wednesday,  Apr 4,2018,20:16 (GMT+7)
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Stocks correct slightly

Phuong Thao

HCMC – Having reached a new high on Monday, the local stock market came under profit taking pressure on April 3, with the VN-Index of the Hochiminh Stock Exchange edging down 8.32 points, or 0.7%, at 1,188.29.

Turnover on the HCMC market was unchanged from Monday’s level with 255 million shares worth VND7.9 trillion changing hands, including 37.6 million shares traded in block deals.

Most heavyweights came under strong selling pressure, with VNM, GAS, SAB and VIC closing in negative territory. Dairy firm VNM was the top contributor to the day’s loss and extended a 9% pullback over the last five days amid investor expectations of weak earnings in the first quarter, said Viet Capital Securities Company.

MWG, an electronics store chain operator, dived to an eight-month low, having lost 14% over the last two weeks. Property firm NVL, in contrast, extended a 27% surge over the last seven trading sessions amid strong foreign inflows.

The banking sector also made positive moves as six out of eight listed banks advanced. Meanwhile, HDB closed at the reference price of VND45,600 a share and STB fell 0.6% at VND15,700 a share.

Notably, property firm HAG and its agricultural affiliate HNG recovered after a sell-off on the previous day, when HAG’s audited profit in 2017 was revised down by more than VND600 billion.

HAG soared 4.5% at VND6,430 a share and ranked third by liquidity with 10 million shares changing hands. Meanwhile, HNG went up to its ceiling price of VND9,070 per share with volume of 3.7 million shares.

SCR, a real estate enterprise, took the lead by volume on the southern bourse with nearly 14.5 million shares traded. ASM, which is active in the construction sector, hit the upper limit of VND12,100 a share with volume of 9.1 million shares.

The HNX-Index rose for the third straight session, adding 0.17% against Monday at 135.62. Turnover on the Hanoi market slightly improved as volume and value gained 8.5% and 9.5% at 56.5 million shares worth VND1 trillion.

Among the HNX30 stocks, lender ACB lost 0.4% at VND21,000 a share with 3.5 million shares transacted. VCS, which is active in the industrial sector, dropped 0.8% at VND261,000 per share while oil and gas stock PVS slumped 2.3% at VND21,000 per share.

On the positive side, lender SHB added 2.3% at VND13,400 per share and took the lead by liquidity with 15.3 million shares traded. Property firm CEO closed at the upper limit of VND15,400 per share and reported volume of five million shares.

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