Monday,  Oct 22, 2018,21:00 (GMT+7) 0 0
Massive selloff hits stocks
Phuong Thao
Friday,  Apr 20, 2018,18:16 (GMT+7)

Massive selloff hits stocks

Phuong Thao

HCMC – Stocks took a nosedive on April 19 as the local stock market came under selling pressure. The VN-Index of the Hochiminh Stock Exchange fell a whopping 43.9 points, or 3.86%, versus the previous day, to close at 1,094.63.

Turnover on the HCMC market improved strongly with volume adding 18.5% at 204 million shares and value picking up 36% to nearly VND7.3 trillion. Foreign investors were active net sellers, net selling VND394 billion of shares, especially those of property enterprises.

Among the large caps, property firm VIC, consumer goods producer MSN and oil distributor PLX plunged to the floor prices with matching volume ranging from 1.2 million to 5.5 million shares each. Meanwhile, lender VCB tumbled by 5.8% and brewery firm SAB slid 6.9% with their intraday lows of VND61,000 and VND212,200 a share.

Dairy firm VNM and leading gas group GAS were the best performers, closing at the reference prices of VND187,500 and VND129,300 per share respectively. Lender CTG led heavyweights by liquidity with 9.5 million shares traded, down 5.8% at VND31,600 per share.

Other banks saw high matching volume, including STB with 9.4 million shares and MBB with 8.8 million shares. STB dipped 3.2% at VND15,000 and MBB edged down 5.2% at VND31,900.

Notably, TPB performed strongly on the first trading day on the HCMC exchange. The bank ranked fourth by liquidity with 7.3 million shares traded and advanced 1.4% at VND32,450 per share.

Some small stocks in the property and mining sectors gained slightly. TTF, a furniture firm, stood out, hitting the upper limit of VND6,070 a share and having trading volume of 3.1 million shares.

The Hanoi market improved, backed by active bottom fishing at the close. Its HNX-Index still slid 1.3% versus the Wednesday at 131.05 points as there were 109 losers and 71 gainers.

Turnover dropped 10% in volume to 54.7 million shares but value rose a slight 3.4% at nearly VND929 billion. SHB was the most actively traded stock with 17.2 million shares changing hands but fell 1.5% at VND12,600 a share.

Among large caps, lender ACB fell 2.4% at VND47,700 a share with 4.9 million shares transacted. PVS, which is active in the oil and gas sector, slid 1.8% at VND21,400 a share on volume of 5.8 million shares.

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