Wednesday,  Oct 24, 2018,03:19 (GMT+7) 0 0
VN-Index tumbles on lower revenue
Phuong Thao
Saturday,  Feb 3, 2018,00:03 (GMT+7)

VN-Index tumbles on lower revenue

Phuong Thao

HCMC – The HCMC stock exchange underwent a deeper correction on January 1 as profit takers took the upper hand in much of the trading time. The VN-Index fell a hefty 10.69 points, or 0.96%, from the day earlier at 1,099.67 as the number of losing stocks was 209 compared to 80 advancers.

Turnover on the HCMC market fell sharply with volume and value shedding 23.3% and 27.7% at 269 million shares and VND7.1 trillion. There were 35.9 million shares worth VND1.1 trillion traded in block deals, including over 12 million shares of lender EIB valued at over VND174 billion.

The VN30 basket saw only a few gainers such as lender CTG, property firm NVL and fuel distributor PLX. MWG, an electronics retail chain operator, picked up to its ceiling price of VND134,200 per share, making the most positive contribution to the Hochiminh Stock Exchange index.

In contrast, oil and gas stock GAS and construction firm ROS retreated after strong gains on Tuesday. GAS closed the day down 1.9% at VND122,200 a share with matching volume of nearly 1.2 million shares and ROS tumbled 5.6% at VND164,600 a share with 1.23 million shares changing hands.

Notably, STB dipped sharply for the second straight session following its four-day winning streak. The lender lost 3.4% at VND15,700 per share and took the lead by liquidity on the southern bourse with over 26 million shares traded.

Among speculative stocks, real estate firm SCR dropped 2.46% at VND11,900 a share while industrial zone operator ITA slumped 4.1% at VND3,250 per share. Meanwhile, agricultural firm HAI and rubber firm VHG plunged to their floor prices.

The HNX-Index experienced a deep fall for the second day, dipping 2.75 points, or 2.18%, at 123.15. The Hanoi market saw trading volume up 4% at 114.5 million shares but value dropped 16% at VND1.7 trillion.

HNX30 stocks were key laggards as 12 stocks in the basket closing down, pushing the HNX30 Index down 3.01% at 245.07 points. Irrigation stock LHC and detergent producer DGC were the only gainers in the basket, adding 1.7% and 0.9% at VND58,000 and VND31,000 a share respectively.

Among bank stocks, SHB remained the volume leader with 44.3 million shares changing hands, down 4.4% at VND12,400 per share. ACB also fell 1.7% at VND41,000 per share and reported matching volume of 6.4 million shares.

Foreigners net bought nearly VND176 billion worth of shares on the HCMC market while net selling over VND48 billion on the northern bourse.

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