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SAB, VIC send market down
Phuong Thao
Saturday,  Dec 2, 2017,01:32 (GMT+7)

SAB, VIC send market down

Phuong Thao

HCMC – The HCMC stock market eased off eight days of rises on November 30 as large caps including brewery firm SAB and leading property company VIC lost.

Despite positive news about divestments of State-held shares in enterprises, SAB came under selling pressure in the afternoon phase while BHN, another brewery firm, lost it upper limit. Besides, VIC closed the day down 2% at VND74,500 per share with matching volume of over 1.7 million shares.

According to securities firms, investors had expected SAB to make positive moves like VNM, which rallied strongly over a State share sale plan. However, their hopes turned weak as the State Capital Investment Corporation (SCIC) set a high starting price for SAB shares at its public auction.

In addition, SCIC announced to delay its divestment plans at plastic firms NTP and BMP and technology company FPT, delivering a blow to transactions on November 30.   

Though advancers still outnumbered decliners by 153 to 128, the VN-Index lost 2.21 points, or 0.23%, at 949.93. Trading volume on the HCMC market rose 8.6% at 249.6 million shares while value slumped 17.5% to VND6.5 trillion.

Many VN30 stocks closed down on high turnover. Lender STB took the leader by volume in this group with six million shares traded, followed by retailer VRE and FPT with over three million shares.

HPG saw its matching volume hitting a six-month high of 11.4 million shares, in which foreigners net bought over 1.4 million shares. The steelmaker added 4.8% at VND41,200 a share.

Among speculative stocks, property firm FLC rose 0.4% at VND7,260 per share with strong demand spurring up turnover to 37.5 million shares. Its associated firm ROS and FIT also advanced but having low volumes of around 900,000 shares and 1.8 million shares respectively.

The HNX-Index gained 0.68% at 114.72 points while turnover on the Hanoi exchange increased 15% at more than VND1 trillion.

There were 13 stocks reporting trading volumes from one million shares with nine of them closing up. On the other hand, petroleum technical service PVS and trading firm KLF declined.

SHB led the market by liquidity with nearly 19.8 million changing hands, followed by KLF with 5.7 million shares and PVS with 5.2 million shares.

Foreigners reduced trading but they still net bought VND19.8 billion of shares on the southern bourse. Meanwhile, they net sold over VND13 billion on the northern exchange.

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