Wednesday,  Oct 24, 2018,03:12 (GMT+7) 0 0
Stocks drop for second day
Phuong Thao
Thursday,  Dec 7, 2017,23:25 (GMT+7)

Stocks drop for second day

Phuong Thao

HCMC – Profit taking pressure pushed the local stock market down for the second straight session on December 6, with the VN-Index shedding 5.66 points, or 0.59%, at 947.64.

Turnover on the HCMC market slightly reduced as trading volume and value fell 5.2% and 9.5% against the previous day at 243.4 million shares worth VND6.1 trillion, respectively. The market saw block deals valued at VND862 billion, including VND369.7 billion worth of 6.5 million shares of property firm NVL.

Having made a steep fall in the morning, blue chips were key contributors to the late index rebound. In the steel sector, HPG added 1.6% to close at the intraday high of VND42,250 per share with 7.1 million shares changing hands while HSG jumped 2.6% at VND25,580 a share on matching volume of 5.6 million shares.

Besides, insurer group BVH increased 3.3% at VND59,900 per share and State-owned gas firm GAS climbed 0.7% at VND83,300 a share. Some large caps such as dairy giant VNM and brewery firm SAB saw their decreases reduced significantly at the close.

Among bank stocks, VCB and BID declined slightly, CTG and MBB closed at the reference prices and STB advanced 1.9% at VND13,250 per share. STB was the volume leader in the sector with 7.18 million shares exchanged.

Speculative stocks were still attractive to buyers. Agricultural firm HAI and mining enterprise AMD went up to the ceiling prices of VND7,910 and VND9,090 a share on volume of 4.57 million shares and 4.56 million shares respectively.

FLC, a property company, again led the market in terms of liquidity with 32.7 million shares traded. However, it fell a slight 0.7% at VND6,800 per share.

The Hanoi market bounced back after Tuesday’s crash, as strong demand sent the HNX-Index up 0.12% at 113.37. Turnover on the exchange remained strong with 75.6 million shares worth VND1 trillion changing hands, including block deals valued at VND122.4 billion.

Lender SHB stood out among gainers for adding 2.2% at VND9,300 a share and taking the lead for liquidity with 21.6 million shares traded. PVS, which operates in the oil and gas sector, increased nearly 1.6% at VND19,300 a share on volume of 8.1 million shares.

Foreigners net sold over VND570.7 billion on the southern market, marking the biggest net selling value since early this year. Meanwhile, they still net bought nearly VND3 billion on the northern bourse.

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