Tuesday,  Oct 23, 2018,12:25 (GMT+7) 0 0
VN-Index drops, trade remains cautious
By Phuong Thao
Thursday,  Jun 14, 2018,18:58 (GMT+7)

VN-Index drops, trade remains cautious

By Phuong Thao

HCMC – The local stock market resumed its downtrent on June 14 as sellers took the upper hand after a strong recovery the previous day. The VN-Index dropped 14.81 points, or 1.44%, to 1,015.72, with decliners slightly outnumbering advancers by 157 to 114.

Trading on the HCMC market improved compared with Wednesday but remained lower than the average level in the first quarter. There were 166 million shares worth VND4.5 trillion exchanged at the end of the day, up 43% and 16.9%, respectively.

According to tinnhanhchungkhoan.vn, cash flow was cautious at blue chips but ran into small stocks with supporting information.

For the VN30 basket, only 11 stocks reported matching volume at one million shares or more, with steel maker HPG taking the lead, with over 6.5 million shares traded. Up to 21 out of 30 stocks in the basket lost ground due to poor cash flow.

Meanwhile, only four out of 10 leading large caps had volume of over one million shares, in which lender BID was the most heavily traded stock, with over 3.8 million shares. Nine stocks in this group declined while MSN, a consumer goods producer, was the only gainer.

The banking sector saw a heavy selloff, with BID and VPB both shedding 4.6% at VND28,300 and VND50,000 per share, respectively. STB reported active block deals being made at the ceiling price, but it closed downward 2% at VND12,550 per share, whereas only EIB managed to rise 0.7% to VND14,750 per share.

In contrast, property firm HAG and its agricultural affiliate HNG performed strongly after announcing positive business plans in 2018. HAG led the southern market for liquidity, with 14.9 million shares, adding 3.6% at VND4,650 per share, while HNG jumped 5.6% to VND9,100 per share.

For the steel sector, HSG reported matching of nearly 4.5 million shares, climbing 3.1% to VND13,200 per share. Meanwhile, other firms such as HPG and NKG closed in the red.

The HNX-Index also slumped a hefty 1.5% at 114.91, with trading volume and value on the Hanoi market dipping 6% and 2% at 34.2 million shares worth VND458.5 billion.

Among the heavyweights, SHB again was the volume leader, with 5.8 million shares changing hands, but the bank declined 2.2% to VND9,000 per share. Lender ACB, which fell 2.2% to VND40,600 per share, ranked second with nearly 3.8 million shares, followed by petroleum technical service firm PVS with 2.1 million shares.

DST, an educational book and equipment firm, saw its shares plunge to the floor price for the second straight day, closing at VND3,000 per share on volume of five million shares.

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