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Stock market starts week in bearish mood

The Saigon Times

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HCMC – The local stock market closed the first session of the week in a bearish mood, with the VN-Index of the HCMC Stock Exchange losing over eight points today, November 29.

With 187 stocks rising and 293 others declining, the benchmark index dropped 8.19 points, or 0.55%, at 1.484,84 points.

Turnover on the southern bourse contracted 8.57% in volume and 11% in value at more than one billion shares worth some VND31.5 trillion. Shares transacted in block deals contributed over VND1.4 trillion to the total value.

In the VN30 basket, only four stocks picked up, while the remainder fell. Notably, property firm VIC surged 6.9% to its daily ceiling price, at VND105,300, buoyed by the strong demand. It saw 8.74 million shares matched.

VIC’s affiliate VHM also added 1.8% to close at its intra-day high, at VND84,800. In addition, securities firm SSI gained 3.4%.

Among the 26 falling stocks in the basket, many reported a decline of some 3% each, such as lenders VCB, STB and TCB, consumer goods stock MSN and air carrier VJC.

Bank stocks remained a burden of the market as most of them extended their losses. For example, VCB slid 3.71%, TCB lost 3.15% and BID and VPB declined over 2% each. Only HDB inched up.

Steel stocks still move inversely as HPG edged down 1.3% and HSG fell 2.1%, while TLH hit its ceiling price for the second consecutive session.

Securities stocks were traded more positively as more stocks ended in the green. Specifically, SSI soared 3.4% to close at its intra-day high, at VND55,300, VND added 2.4%, and VIX reached its ceiling price, at VND35,850.

Real estate and construction stocks were a bright spot of the market with multiple stocks in the group hitting their ceiling prices.

On the Hanoi Stock Exchange, blue-chip stocks helped the HNX-Index rise 1.96 points, or 0.43%, at 460.58 points.

Nearly 134 million shares worth VND3.7 trillion were traded on the bourse.

The HNX30-Index increased 2.44 points, mainly thanks to the rise of property and construction stocks, such as THD by 1.5%, CEO by 5.9%, LHC by 5.5% and VMC hitting its ceiling price.

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