Monday,  Oct 22, 2018,22:10 (GMT+7) 0 0
Stocks decline slightly
Phuong Thao
Friday,  May 4, 2018,18:13 (GMT+7)

Stocks decline slightly

Phuong Thao

HCMC – Selling pressure kept mounting in the morning phase on May 3 but bottom fishers became active at around the 1,000-point level of the VN-Index of the Hochiminh Stock Exchange.

The index sharply pared its loss at the close, dipping 2.62 points, or 0.25%, against the previous day at 1,026.46. Turnover on the HCMC market slightly improved as volume and value added 11% and 15% at 203.5 million shares and nearly VND6.6 trillion, backed by major block deals of lender MBB, technology firm FPT and property enterprise NVL.

Strong bottom fishing sent seven out of eight listed banks on the HCMC bourse into positive territory, in which CTG led the exchange by liquidity with 9.4 million shares traded. Meanwhile, TPB was the only stock in the sector moving flat.

Among the large caps, construction firm ROS and insurer BVH made the most positive moves to the index. In contrast, steelmaker HSG, realty firm NVL and leading gas group GAS were key laggards, in which GAS plunged to its floor price of VND96,500 per share with matching volume of over one million shares.

On the Hanoi market, pillar stocks in the banking, petroleum and real estate sectors pushed the HNX-Index of the Hanoi Stock Exchange up to an intraday high of 122.51 points, up by 1.53 points, or 1.27%, from the session earlier. There were 52.5 million shares worth VND738.8 billion changing hands at the end of the day, up 9% and 2% respectively.

Among bank stocks, SHB was the volume leader with 13 million shares transacted, rising 0.9% at VND11,000 a share. ACB was the top gainer, jumping 3.6% at VND43,500 per share, and NVB lost 1.1% at VND9,400 a share.

DST, which is active in the hospitality sector, was the second most actively traded stock with 5.3 million shares but it closed flat at VND4,500 a share. Petroleum technical service firm PVS ranked third with nearly 4.2 million shares traded, up 3% at VND16,900 per share.

Airport service provider MAS plunged to its floor price of VND58,400 a share for the second straight session. KVC, a stainless steel firm, closed at the floor price in the eighth consecutive losing session, at VND2,000 per share, and over one million shares were matched.

Foreign investors remained active on the selling side for net selling nearly VND770 billion on the southern market, double that on Wednesday. They also net sold VND13.3 billion of shares on the Hanoi bourse.

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