Tuesday,  Oct 23, 2018,19:48 (GMT+7) 0 0
VN-Index tumbles on dreary turnover
Phuong Thao
Friday,  Feb 9, 2018,21:11 (GMT+7)

VN-Index tumbles on dreary turnover

Phuong Thao

HCMC – Wednesday’s strong recovery turned out to be short-lived as investors on February 8 scrambled to take profits, sending the VN-Index down 17.3 points, or 1.66%, at 1,023.25.

Large caps were mixed with financials BID, HDB and BVH and steelmaker HPG gaining ground while others extended losses in the afternoon phase. GAS, a leading oil and gas stock, slumped 5.5% at VND104,000 a share while brewery firm SAB dropped 3.4% at VND225,000 a share.

For the VN30 basket, pharmaceutical firm DHG added 2% at VND95,000 a share and sugar enterprise SBT, the third most actively traded stock with over 6.7 million shares changing hands, increased 2.3% at VND17,500 a share.

In contrast, brokerage firm SSI slid 4.2% at VND55,200 per share with volume of two million shares. Lender STB ranked second by liquidity with nearly 8.5 million shares traded but it closed down 5.4% at VND14,900 per share.

Turnover on the HCMC exchange kept falling as volume and value declined 25% and 27% from the previous day at 181.5 million shares worth VND4.8 trillion.

Notably, property firm HAG and its agricultural affiliate HNG came under strong selling pressure as the HCMC stock exchange had issued them a warning due to late submission of their audited financial reports in 2015 and 2016. HAG and HNG plunged to the floor prices of VND6,620 and VND6,700 a share respectively. HAG was the volume leader on the southern market with over 21.2 million shares traded.

Some speculative stocks reported high turnover but retreated in the afternoon phase. Mining enterprise AMD dipped 0.2% at VND6,240 per share.

The Hanoi market saw heavy losses as the HNX30 basket saw up to 18 falling stocks versus four others gaining. The HNX-Index closed the day at 116.94 points, down 2.24% against Wednesday.

Turnover on the northern bourse sharply slid with volume and value shedding 19% and 26% at 51.3 million shares and VND674.7 billion. There were 4.8 million shares traded in block deals, with a combined value of VND47.5 billion.

Lender SHB was the most actively traded stock with 11.8 million shares changing hands, dropping 4% at VND12,000 per share. Petroleum technical service firm PVS declined 9.4% at VND20,200 a share with volume of 8.6 million shares and SHS, a securities company, fell 2.4% at VND20,500 a share with 1.6 million shares traded.

DST, which is active in the service sector, stood out, hitting the upper limit at VND3,400 per share after plunging to the floor price in the morning. DST ranked third by liquidity on the northern bourse with matching volume of 5.6 million shares.

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