Tuesday,  Sep 25, 2018,23:35 (GMT+7) 0 0
VN-Index moves sideways
By Phuong Thao
Tuesday,  Aug 14, 2018,20:07 (GMT+7)

VN-Index moves sideways

By Phuong Thao

HCMC – The VN-Index of the Hochiminh Stock Exchange made little change today, August 14, as selling pressure on banking stocks was almost offset by a late rally of blue chips, inching up a marginal 0.02% at 978.27 points.

Trade on the market slid sharply as volume and value edged down around 17% against the previous day at 177.3 million shares worth nearly VND4.2 trillion. The put-through market saw 27.5 million shares valued at nearly VND577 billion changing hands, including large deals of lender EIB and investment firm BCG.

VN30 stocks performed strongly as up to 20 stocks in the basket gained ground versus nine others closing with losses. PNJ, a jewelry enterprise, jumped 4.6% at VND102,000 per share, having traded under the VND100,000 level for over two months.

VIC, a property company, added 0.5% at VND102,000 a share, while its subsidiaries VHM and VRE rose 0.3% and 0.5% at VND107,800 and VND40,400 per share, respectively. Steel maker HPG was the most actively traded stock in the group with 5.3 million shares traded, gaining 0.5% at VND38,500 per share.

In contrast, bank stocks encountered a heavy sell-off, with CTG dipping 1.7% at VND25,300 a share and TCB sliding 0.9% at VND27,200 a share. Among nine listed banks, HDB and TPB were the only two lenders that moved flat.

VPB led the southern market by liquidity with 9.6 million shares traded, followed by MBB with 6.3 million shares and VPB with 5.4 million shares. EIB, meanwhile, saw over 10 million shares changing hands in block deals.

Many speculative stocks also declined amid poor cash flow. FLC was the most liquid most in this group with 7.6 million shares transacted, followed by HAG with 5.4 million shares. BCG, an investment firm, bucked the trend, going up to the ceiling price of VND5,720 per share.

The HNX-Index of the Hanoi Stock Exchange broke its five-day winning streak with a 0.61% loss at 109.79 points. The market saw 36.6 million shares worth VND511.6 billion changing hands, down 38% and 39% versus Monday, respectively.

Among large caps, lender ACB lost 1.6% at VND37,500 per share, making the most negative contribution to the northern index. Its fellow bank SHB was the volume leader with 6.3 million shares traded, falling 2.3% at VND8,600 a share.

Meanwhile, oil and gas firm PVS reported matching volume of over five million shares, inching up 0.5% at VND21,000 per share. Lender NVB jumped 5.6% at VND7,600 per share with 1.9 million shares traded.

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