Monday,  Oct 22, 2018,22:23 (GMT+7) 0 0
Sellers turn active after long holiday
Phuong Thao
Thursday,  May 3, 2018,16:56 (GMT+7)

Sellers turn active after long holiday

Phuong Thao

HCMC – A selloff hit the local stock market on May 2 after a four-day national holiday, pushing the VN-Index down 21.18 points, or 2.02%, versus last Friday at 1,029.08.

Investor sentiment was dampened as the index of the HCMC bourse went below the strong supporting level of 1,030 points, resulting in 185 stocks closing in the red and 98 others rising. The Hochiminh Stock Exchange saw over 183 million shares worth VND5.7 trillion changing hands, down 4.3% and 2.7% against the previous session respectively.

A number of large-cap stocks saved the index from further losses, in which brewery stock SAB inched up 0.05% at VND213,100 per share and steel maker HPG added 1.1% at VND54,400 a share. PLX, a leading fuel distributor, went up to the ceiling price for the second straight session at VND66,000 a share.

Having tumbled to near the floor price in the morning, property firm VIC rebounded and closed with a slight drop of 0.8% at VND125,000 per share with 5.2 million shares traded. Its retail affiliate VRE closed unchanged at VND46,300 a share with volume of 5.3 million shares.

For the banking sector, BID and CTG plunged to the floor prices of VND33,600 and VND27,250 a share respectively. Meanwhile, VCB slumped 3% at VND58,200 per share with over 2.8 million shares matched.

Among the five most actively traded stocks, sugar firm SBT advanced 1.6% at VND18,400 per share. SBT took the lead by liquidity with 7.9 million shares traded.

Meanwhile, the remaining stocks – property firms ASM and HAG, industrial zone developer ITA and lender CTG – tumbled to their floor prices. Notably, the HCMC exchange issued a warning against HAG as auditors had been skeptical about its financial situation.

The HNX-Index of the Hanoi Stock Exchange plummeted 1.36% at 120.97 points as losers outnumbered gainers by 108 to 75, including 16 stocks closing at the floor prices. Trading volume and value on the Hanoi market shed 13% and 18.3% at 45.5 million shares worth VND695 billion.

Foreign investors were active on the selling side as they net sold VND358.4 billion of shares on the southern exchange, focusing on VIC and budget carrier VJC. Last Friday, they net sold 170,000 shares but reported a net buying value of VND141.9 billion.

Meanwhile, they net bought VND44.3 billion of shares on the Hanoi market. They concentrated on some construction and oil and gas stocks such as VGC and PVS.

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