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Monday, January 24, 2022

Bluechips drag VN-Index to third straight losing session

The Saigon Times

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HCMC – The VN-Index of the Hochiminh Stock Exchange (HoSE) suffered the third straight losing session, ending 0.76% lower at 1,492.31 points as many bluechips tumbled today, January 11.

With this decline of over 11 points, the benchmark index lost a total of 36 points in the last three sessions.

Losing stocks outnumbered winning ones by 346 to 122 today. More than 1,251 million shares worth some VND36 trillion changed hands on the southern market, falling 9% in volume and 14% in value compared with the previous session.

Approximately 31.9 million shares worth over VND1.3 trillion were traded in block deals.

A host of bluechips suffered steep drops, dragging the market into the red. Consumer goods producer MSN was the biggest decliner in the VN30 basket, falling 5.3% to VND144,900.

Other major losers included real estate stocks VHM and VIC, which fell 2.1% to VND83,600 and 1.3% to VND101,000, respectively.

Besides, securities firm SSI, tech firm FPT, rubber group GVR, retailer VRE and housing developer KDH lost 2-2.9%.

Steelmaker HPG, electricity producer POW, insurer BVH,  real estate company PDR and many bank stocks such as VCB, VPB, MBB, ACB, HDB, TPB and CTG also dipped into the red.

Lender STB was the biggest gainer among bluechips, but it grew by only 2.7% to close at VND32,450, followed by lender BID, gas distributor GAS and jewelry company PNJ, which rose 1.4%, 1.3% and 1%, respectively. Real estate developer NVL and brewery SAB increased slightly.

In the group of small and medium stocks, shares of the FLC family stole the limelight, with FLC, ROS, AMD and HAI having approximately 300 million shares traded in total, accounting for nearly 25% of the southern bourse’s trade volume.

FLC broke its own record, which was set yesterday, with 155 million shares sold off during this session.

The State Securities Commission of Vietnam said it is working with related agencies to consider fining Trinh Van Quyet, chairman of conglomerate FLC, for failure to report his sale of 74.8 million FLC shares of the company.

The commission received a report on the case from HoSE at 5:45 p.m. on Monday. Prevailing regulations require major shareholders to announce planned stock sales in advance.

FLC closed at the floor price of VND21,150 with 134.96 million shares changing hands yesterday.

During the session, the stock also shot up to the ceiling price of VND24,100. At that price, Quyet’s sale of 74.8 million shares would have fetched VND1.8 trillion.

On the Hanoi Stock Exchange, the HNX-Index fell 0.26%, or 1.28 points, to close at 481.61 points, with 79 winning stocks and 160 losing ones. Over 138.1 million shares worth approximately VND3.87 trillion were transacted.

Food service provider KLF and securities corporation ART dropped to the floor prices at VND9,500 and 15,200, respectively. They also took the lead in terms of liquidity on the northern market with 24.9 million and 12.6 million shares changing hands, respectively.

The main dragging stocks also included SHS, DL1, PVL, TVC and IDC, which fell 3.4-6.8%.

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