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Tuesday, July 23, 2024

Selling pressure behind stock market’s loss

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HCMC – The increased selling pressure dragged the VN-Index of the Hochiminh Stock Exchange down 4.49 points, or 0.33%, from the session earlier, at 1,341.9 today, September 7, sending a winning streak of five sessions to an end.

At the close, the southern bourse saw 125 stocks advancing and 294 others declining. Some 869.4 million shares worth VND26.7 trillion changed hands, falling 8% in volume and 5% in value against the day earlier. There were over 19.8 million shares valued at VND927 billion traded in block deals.

Many bank stocks such as TPB, VPB, CTG, BID, MBB and STB made strong gains, saving the main index from a steep fall.

Among large-cap stocks, real estate company PDR reported the sharpest decrease of 3.5%, while retailer VRE, utility stock POW, insurer BVH and petroleum stock GAS were on negative territory.

Property firm VIC, rubber group GVR, consumer goods firm MSN, fuel distributor PLX and tech firm FPT dropped by 1%-1.5%.

Steel maker HPG lost steam at the close, but took the lead on the southern bourse by liquidity with a matching volume of over 31 million shares.

In the group of small and medium stocks, property stock BCG, construction firms PHC and ASM, and agriculture company SJF plunged to the floor prices.

Meanwhile, the Hanoi Stock Exchange continued witnessing positive movements as the HNX-Index added 0.85 points, or 0.25%, over the session earlier, at 346.48, buoyed by the good performance of many largecaps.

Lender NVB shot up to the ceiling price, while securities firms SHS and MBS, and bank stocks SHB and BAB gained ground.

SHB was the most actively traded stock on the northern bourse with over 15.8 million shares changing hands, followed by SHS with 11.9 million shares.

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