Wednesday,  Apr 24, 2019,23:03 (GMT+7) 0 0
Cash flow remains weak, index down
By Phuong Thao
Tuesday,  Jul 10, 2018,18:57 (GMT+7)

Cash flow remains weak, index down

By Phuong Thao

HCMC – The local stock market experienced sluggish transactions again on July 10, with the trading value hovering at a nine-month low of VND2.7 trillion.

The market breadth was neutral, with 118 stocks rising versus 143 closing down. The VN-Index on the Hochiminh Stock Exchange slipped for the second straight session to 911.12, dipping by four points, or 0.44%, compared with the previous day.

Many large caps lost ground due to cautious trading, with lender VCB shedding 1.7% to VND53,100 per share. Property firm VIC fell by 1.9% to reach VND103,000 per share, while dairy enterprise VNM closed at the reference price of VND16,700 per share.

Property firm VHM, a subsidiary of VIC, traded in the negative territory during the day, before closing up 1.6% to hit VND111,000 per share. Meanwhile, lender TCB gave up 3% to stand at VND27,650 per share.

However, some lenders managed to save the main index from a steep fall, with BID, CTG and VPB adding 1.5%, 1.1% and 2.6%, respectively. CTG was the most heavily traded stock in the VN30 basket, with 4.7 million shares being traded, followed by steelmaker HPG (4.3 million shares) and BID (3.6 million shares).

Among speculative stocks, real estate firm FLC led the southern market for liquidity, with 7.2 million shares exchanged, rising by 3.2% to VND4,850 per share. After jumping for five sessions in a row, including four sessions hitting the upper limit, NVT, a tourism and property enterprise, plunged to the floor price of VND5,980 per share on volume of more than 500,000 shares.

The Hanoi Stock Exchange also saw a slump in turnover, with volume and value losing by 22% and 23.4%, respectively, against Monday at 28.3 million shares worth VND370.5 billion. The HNX-Index rose for the third consecutive session, gaining 0.86% to reach 101.62 points.

Lender ACB, the top heavyweight on the northern market, increased by 2.7% to VND33,900 per share on matching volume of 3.2 million shares, making the most positive contribution to the HNX Index. Its fellow bank SHB was the volume leader, with 5.2 million shares changing hands, but it lost 1.3% to VND7,600 per share.

Among large caps, building material firm VGC declined by 3% to VND16,200 per share on volume of 2.6 million shares. Meanwhile, petroleum technical service firm PVS dropped by 0.6% to VND15,900 per share.

Foreigners reduced transactions, net selling a marginal VND80.4 billion worth of shares on the HCMC market. In contrast, investors net purchased VND11.8 billion worth of shares on the Hanoi stock exchange.

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