Wednesday,  Jun 26, 2019,02:33 (GMT+7) 0 0
VN-Index tumbles to 970 points
By Phuong Thao
Monday,  Mar 25, 2019,19:08 (GMT+7)

VN-Index tumbles to 970 points

By Phuong Thao

Stock trading at HCMC Securities Corporation. The VN-Index of the Hochiminh Stock Exchange plunged to 970 points on March 25 - PHOTO: THANH HOA

HCMC – Local stocks opened the week with a crash today, March 25, as the number of losing stocks on the Hochiminh Stock Exchange was three-fold bigger than that of rising ones at 236 to 78.

The VN-Index fell a massive 18.64 points, or 1.89%, compared to last Friday to close at 970.07. Trading volume and value on the southern market improved 18.8% and 6.6% at 245.7 million shares worth VND5 trillion, including block deals with the total value of over VND1.4 trillion.

Property firm VIC and its associated enterprises were the key factor behind the market crash, in which VIC dipped 2.8% at VND115,200. Retailer VRE plunged 4.7% at VND33,350 due to heavy selling pressure from foreigners while housing developer VHM slid 2.3% at VND89,000.

VRE reported matching volume of 5.6 million shares, with foreigners net selling 2.68 million shares of the retail group. Meanwhile, VIC and VHM had matching volume of under one million shares each.

Lender CTG was the most actively traded stock among heavyweights with nearly 7.2 million shares changing hands, losing 1.5% at VND22,150. Its fellow bank MBB came next with 6.6 million shares, falling 3.2% against the previous session at VND22,150.

Among small and speculative stocks, property group FLC led the market for liquidity with 11.5 million shares exchanged but it declined 1.9% at VND5,100. DLG, which is active in the real estate and infrastructure sector, plunged to the floor price of VND1,520 on volume of 4.1 million shares.

Notably, realty company HAG and its agricultural affiliate HNG went up to the ceiling prices of VND5,610 and VND16,050, respectively. Last week, HAG and local carmaker Thaco deepened their cooperation in the agriculture sector following an agreement signed in August 2018, under which Thaco will acquire a 35% stake in HNG.

Meanwhile, media group YEG went up to the ceiling price for the third consecutive session, closing at VND117,000 after plunging to the floor price for 13 sessions in a row. In contrast, food firm GTN plunged to the floor of VND16,650 for the second session.

On the Hanoi Stock Exchange, the HNX-Index lost 1.68 points, or 1.56%, at 106.41. The market saw 47.8 million shares worth VND584.7 billion traded at the end of the day, down 15.4% and 31.7% versus last Friday, respectively.

Petroleum technical service firm PVS was the top loser as it declined 4.3% at VND20,100. It was the second most heavily traded stock on the northern market with 3.8 million shares traded.

Lender SHB was the volume leader with 8.6 million shares exchanged, dipping 3.9% at VND7,400.

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