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Monday, June 17, 2024

Stock market closes in downbeat mood

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HCMC – Waning cash flow into many bluechips, mainly bank stocks, sent the VN-Index of the Hochiminh Stock Exchange falling by 10.84 points, or 0.79%, today, June 16.

On the southern bourse, the benchmark index closed at 1,356.52 points, with 176 gainers and 222 losers. Trade volume advanced 5.3%, from the session earlier, at 769.6 million shares, while the trade value lost 4% at VND23.4 trillion. Over 29 million shares worth VND1.3 trillion were traded in block deals.

In the group of bank stocks, only three stocks VCB, BID and VPB gained ground.

Other lenders were in negative territory, with SSB, LPB and TCB tumbling by over 3% at the close.

The negative performance of many securities stocks also contributed to the decline of the southern bourse, with SSI reporting the sharpest drop, down 5%, and VCI, APG and AGR dipping by 2.9%-3.4%.

Other losers on the southern bourse were property group VIC, housing developer VHM and consumer goods stock MSN.

On the positive side, gas firm GAS reversed course to end up 3.6%, while other fuel stocks such PLX and PVD improved by over 2% each.

Many midcap and penny stocks were the outstanding cash magnets, with real estate developer DLG hitting the ceiling price and reporting a matching volume of 15 million shares. Agricultural material firm TSC and housing developer TDH and shipping firm VOS also shot up to their ceiling prices at the close.

The HNX-Index of the Hanoi Stock Exchange lost 4.64 points, or 1.46%, against the previous session, at 313.65, as strong selling pressure hit many bank and securities stocks.

The northern bourse saw 184 million shares worth VND4.5 trillion shares change hands, down 18.4% in volume and 28.7% in value, from the session earlier.

Lender SHB closed at its intra-day low at VND27,000, but took the lead on the northern market by liquidity, with 43.6 million shares traded.

Securities stocks VND, SHS, MBS and APS finished the day down 3.6%-4.5%, pilling pressure on the northern market.

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