Wednesday,  Nov 21, 2018,22:38 (GMT+7) 0 0
Index down for third day, trade still low
By Phuong Thao
Monday,  Oct 22, 2018,18:52 (GMT+7)

Index down for third day, trade still low

By Phuong Thao

The VN-Index of the Hochiminh Stock Exchange fell for the third straight session today, October 22 - PHOTO: THANH HOA

HCMC – Having made some recovery in the morning phase today, October 22, selling pressure pushed the VN-Index of the Hochiminh Stock Exchange down again in the afternoon phase, extending its losing streak to the third consecutive session.

The main index closed at the intraday low of 953.51, dropping 4.85 points, or 0.51%, versus last Friday. Trading on the southern market remained poor as volume and value contracted 3.9% and 8.9% at 147.5 million shares and VND3.6 trillion, respectively.

Most bank and petroleum stocks advanced in the morning before losing steam and closing with huge losses. Lender VCB was the top contributor on the negative side for sliding 1% at VND57,100 while its fellow bank CTG also fell 1% at VND24,450.

STB again led the market by liquidity with matching volume reaching nearly 8.7 million shares. However, the bank slumped 3.7% compared to last Friday to close at VND12,950.

For the oil and gas sector, the top heavyweight GAS moved flat at VND112,000. Meanwhile, leading fuel distributor PLX lost 2.6% at the intraday low of VND60,400.

Notably, construction enterprise DIG plunged to the floor price of VND7,000, having gained nearly 2.5% in the morning matching phase. The firm turned the second most liquid stock after STB with over 7.3 million shares traded.

Last week, DIG announced its plan to issue 47.6 million shares for existing shareholders at VND13,000 per share, thus spurring its chartered capital from VND2.5 trillion to VND3 trillion. The issuance ratio was set at 0.188-for-1, not 0.2-for-1 as earlier planned.

Besides, many small and medium stocks in the real estate sector such as DXG, HBC, HQC and QCG declined, despite posting good business results in the third quarter of 2018.

The HNX-Index of the Hanoi Stock Exchange dipped for the second straight session, losing 0.51% against the previous session at 107.55. Trading volume rose a slight 4.3% at 40 million shares but value decreased 7% at over VND466 billion.

Lender SHB again took the lead for liquidity with 5.3 million shares changing hands but it fell 1.2% at VND8,000. Petroleum technical service firm PVS ranked second with volume of 4.8 million shares, rising 0.48% at VND20,900.

KLF, which is active in the trading and food service sectors, hit the upper limit before closing at the reference price of VND2,000. The firm reported matching volume of nearly 3.3 million shares.

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