Monday,  Oct 22, 2018,21:10 (GMT+7) 0 0
Foreign selling sends stocks down
Phuong Thao
Thursday,  May 10, 2018,23:42 (GMT+7)

Foreign selling sends stocks down

Phuong Thao

HCMC – Stocks fell for the second straight session on May 9 as foreigners remained active on the selling side, pushing the VN-Index down 3.48 points, or 0.33%, at 1,056.97.

On the HCMC market, foreigners were net sellers for the sixth consecutive day, net selling 5.7 million shares valued at VND247.5 billion. They heavily sold shares of low-cost carrier VJC with a net selling value of VND33 billion, followed by retailer FRT with VND14.4 billion and realty firm DXG with VND8.8 billion.

Trading volume on the exchange fell a slight 5% against the previous day at 161 million shares but value was almost unchanged at VND5.1 trillion. The put-through market was bustling with 35.4 million shares worth VND1.8 trillion exchanged.

Among the 10 leaders for market capitalization, gas firm GAS and VJC were the top gainers for adding 4.3% and 3.8% at VND107,500 and VND194,200 a share respectively. Meanwhile, steelmaker HPG closed flat at VND57,000 per share and the remaining stocks lost ground.

Most of the heavyweights saw poor turnover. Lender CTG was the volume leader in this group with 4.2 million shares traded, followed by its fellow bank VCB with 2.7 million shares and HPG with over two million shares.

For the steel sector, HSG and POM went up to the ceiling prices of VND15,150 and VND17,150 per share on matching volume of four million shares and 110,000 shares respectively. NKG failed to close at the upper limit but still jumped 6% at VND22,700 a share.

Notably, many small stocks strongly attracted cash flow, in which construction firm ASM led the market for liquidity with 5.4 million shares traded, followed by necessity trading firm IDI with 4.3 million shares and industrial firm HHS with 4.2 million shares. ASM and HHS closed down 1.7% and 3.1% at VND14,000 and VND4,670 per share while IDI rose a slight 0.3% at VND13,900 a share.

On the Hanoi market, the HNX-Index slumped 1.17% at 123.86 while trading volume and value contracted 16% and 22.6% at 43.5 million shares worth VND602 billion.

Among gainers, PVS, an oil and gas enterprise, climbed 3.9% at VND18,700 per share on volume of 4.3 million shares. Insurer PVI increased a slight 0.9% at VND33,800 a share and VPI closed at the reference price.

In contrast, SHB, the volume leader with 5.3 million shares traded, slid 0.9% at VND10,900 a share. Meanwhile, plastic firm NTP lost 2.5% at VND54,500 a share and infrastructure firm DL1 dipped 0.2% at VND39,300 a share.

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