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VN-Index down after four-day rallies
Phuong Thao
Wednesday,  Apr 11, 2018,23:27 (GMT+7)

VN-Index down after four-day rallies

Phuong Thao

HCMC – Strong selling pressure that piled up at the new record high of 1,210 points pushed stocks down on April 10 after a four-day winning streak, with the VN-Index losing 6.21 points, or 0.52%, at 1,198.12.

Turnover on the HCMC market improved with volume and value rising 14% and 15% at 286.7 million shares worth VND9.2 trillion. There were 40.1 million shares worth VND1.4 trillion traded in block deals, including nearly 6.5 million shares of steelmaker HPG valued at VND391.7 billion.

Having increased strongly in previous sessions, many real estate stocks declined but with high turnover. SCR reported matching volume of 12.2 million shares, dropping 2.9% at VND13,600 per share, while FLC fell 1.8% at VND6,000 a share with 11.3 million shares traded.

ROS plunged to floor price before closing with a 6.2% loss at VND115,200 a share. VIC, a leading property enterprise, decreased 2.9% at VND131,000 per share on volume of nearly 4.5 million shares.

Only three out of eight listed banks on the southern market managed to rise. HDB advanced 3.9% at VND50,600 a share on volume of 9.2 million shares while BID added 2.5% at VND45,500 a share and VCB increased 0.9% at VND74,500 per share.

STB was the most actively traded stock with 12.9 million shares exchanged but the bank stock lost 1.2% at VND16,200 per share. MBB dipped 0.7% at VND36,550 a share and VPB fell 1.4% at VND68,300 a share on volume of 8.5 million shares and 3.3 million shares respectively.

Notably, KSA was the cheapest stock at VND670 a share after plunging to the floor prices for five sessions in a row. The mining firm reported a trade volume of over 1.4 million shares.

The Hanoi market tumbled for the second straight session as losers far outnumbered gainers by 105 to 45. The HNX-Index lost 1.1 points, or 0.8%, against the previous day at 136.68.

At the end of day, there were 66.6 million shares worth VND1.1 trillion changing hands, both falling by around 10% versus Monday. The put-through market was quiet with just VND19.7 billion worth of 1.5 million shares traded.

Lender SHB was volume leader with 20 million shares exchanged, rising 1.5% at VND13,700 a share. Meanwhile, its fellow bank ACB dropped 1.2% at VND50,500 per share on volume of 4.5 million shares.

Among oil and gas stocks, PVS increased 2% at VND20,600 per share with four million shares exchanged while PVC closed at the floor price of VND7,000 a share. The northern stock watchdog just gave a warning against PVC as it had incurred losses for two years in a row.

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