Wednesday,  Oct 24, 2018,04:33 (GMT+7) 0 0
Stocks ease off five-day rallies
Phuong Thao
Tuesday,  Jan 30, 2018,22:14 (GMT+7)

Stocks ease off five-day rallies

Phuong Thao

HCMC – Having jumped by nearly 14 points, stocks on the HCMC bourse lost ground in the afternoon phase on January 29 as selling pressure accelerated. The VN-Index ended its five-day winning streak, losing a slight 5.84 points, or 0.52%, at 1,109.8.

Turnover on the Hochiminh Stock Exchange dipped as trading volume and value fell 5.5% and 12.4% against last Friday at 276.7 million shares worth more than VND8.1 trillion. The put-through market was quiet with only 13.4 million shares transacted with a combined value of VND664.7 billion.

Many large-cap stocks fell as they came under selling pressure. VNM, a dairy giant, dropped 2.5% at VND206,500 per share while brewery stock SAB ended at an intraday low of VND245,000 a share, down 2.8% versus the previous session.

Financial stocks, meanwhile, led advancers. Notably, STB went up to the upper limit of VND16,750 per share with matching volume of 34.3 million shares and BID jumped around 6.5% at VND34,600 a share with 4.4 million shares changing hands.

Among securities stocks, HCM and CTS shot up to the ceiling prices of VND80,300 and VND12,650 per share respectively. In the property sector, HAR closed near the upper limit at VND8,120 a share and reported matching volume of 1.5 million shares while almost all other stocks moved sideways.

The HNX-Index rose for the third straight session, adding 0.42% at 127.35 points. There were 94.4 million shares worth VND4.4 trillion traded on the Hanoi exchange, up 28% and 16.6% respectively.

The put-through market saw 15.9 million shares worth VND194.5 billion traded, including eight million shares of lender SHB traded at the floor price of VND11,200 each. SHB closed up 7.2% at VND13,300 a share, with nearly 30.8 million shares traded.

On the other hand, its fellow bank stock ACB slid 0.24% at VND42,000 per share with 4.9 million shares changing hands. VCS, which is active in the industrial sector, fell 2.3% at VND229,500 a share.

Securities stocks on the Hanoi bourse performed strongly with SHS, MBS and BVS increasing from 1% to 4.8% each.

Foreign investors shifted to the selling side on the HCMC bourse with net selling over VND262 billion. They sold VND154 billion of VNM shares, VND121 billion of HPG shares and VND64.4 billion of HDB shares.

Meanwhile, they net bought over VND4.5 billion of shares on the Hanoi exchange.

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