Wednesday,  Oct 24, 2018,03:10 (GMT+7) 0 0
Stocks correct slightly
Phuong Thao
Wednesday,  Jan 17, 2018,23:42 (GMT+7)

Stocks correct slightly

Phuong Thao

HCMC – The local stock market broke its six-day winning streak with a mild decline on January 16, as the VN-Index fell 0.05% against the previous day at 1,062.96.

Turnover on the HCMC exchange jumped 15.5% in volume and 10.8% in value to over 340 million shares worth VND8.2 trillion. Block deals contributed VND1.2 trillion to the overall value, including large transactions of lender HDB and property firm NVL.

Oil and gas stocks became biggest gainers, among which GAS added 1.3% at VND103,500 per share on the matching volume of over 1.1 million shares. PLX and PVD increased 0.6% and 1.4% at VND91,000 and VND28,300 a share on volume of 1.5 million shares and 2.9 million shares respectively.

In contrast, leading brewery company SAB, property firm VIC and its retail affiliate VRE made the most negative moves. VIC and VRE saw high turnover of over four million shares and 2.4 million shares respectively.

Among bank stocks, CTG, BID and MBB advanced, VCB moved flat while STB, HDB and VPB lost ground. Most lenders reported matching volumes of between four million and seven million shares each, except for EIB that saw 1.5 million shares changing hands.

STB, which took the lead for liquidity with 42.1 million shares exchanged, fell 2.6% at VND14,950 per share and extended its losing streak to the third straight session. Foreigners, however, net bought over two million shares of the lender.

Notably, some small caps advanced nicely amid strong turnover in the afternoon phase. HAG, a real estate enterprise, was the volume leader in this group with 23.8 million shares traded, followed by mining firm AMD with 9.7 million shares and agricultural firm HAI with 6.5 million shares.

The HNX-Index dropped 0.36% at 121.59 as losers outnumbered gainers by 81 to 74. Trading volume on the Hanoi bourse slid a slight 2% versus the previous day at 66.3 million shares but value contracted 11.5% at nearly VND908 billion.

Most blue chips such as SHB, ACB, PVS and PVC encountered profit taking pressure. Lender SHB remained the volume leader with over 16 million shares traded, followed by oil and gas stock PVS with 5.7 million shares and bank stock ACB with nearly 3.4 million shares.

Property firm HUT was the only gainer in the blue chip group with a 1.7% rise and matching volume of 5.1 million shares. DST, which is active in the book and educational equipment sector, hit the upper limit of VND7,800 per share with its matching volume reaching a one-month high of 3.1 million shares.

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