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Strong selling drives VN-Index down slightly

The Saigon Times

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HCMC – The VN-Index of the Hochiminh Stock Exchange fell slightly today, September 20, as strong selling put pressure on the local stock market.

The benchmark index lost 2.16 points, or 0.16%, at 1,350.48, with decliners outnumbering winners by 234 to 197.

Nearly 894.5 million shares worth some VND24.5 trillion changed hands on the southern bourse, increasing 5% in volume but falling 5.44% in value against the previous session. Some 43 million shares worth VND1.6 trillion were traded in block deals.

Many stocks in the VN30 basket lost ground. Fuel stock GAS, rubber group GVR and consumer goods producer MSN incurred their steepest falls as they edged down 3.4% to VND88,800, 3% to VND37,400 and 2.1% to VND143,000, respectively.

Besides, tech firm  FPT, jewelry company PNJ, petroleum stock PLX and brewery firm SAB inched down over 1%.

Steel stocks were among the worst performing stocks. HSG was down 4.3% to VND45,000, NKG down 3.4% to VND43,550 and TLH down 4.9% to VND22,200.

Real estate stocks also performed poorly, with DIG and LCG being the steepest decliners, falling 6% to VND32,000 and 3.5% to VND18,000, respectively. IJC dropped 2.7% to VND28,300 and KBC fell 3% to VND41,000.

In contrast, bank stocks were the biggest gainers. VIB shot up to the ceiling price at VND38,500, while TCB, OCB, VCB and LPB advanced 1.9-4.7%. MBB, ACB and STB gained over 1%.

In the group of speculative stocks, TGG, TDH and VKC soared to their ceiling prices.

Industrial zone developer ITA led the southern market by liquidity with 38.11 million shares changing hands, followed by real estate stock HQC with more than 32.8 million shares.

ITA increased to its ceiling price at VND7,610 and HQC surged 6.4% to VND3,840.

On the Hanoi Stock Exchange, the HNX-Index moved up 0.25%, or 0.9 point, to close the day at 358.87, with 132 gainers and 112 decliners. There were 184.3 million shares worth nearly VND3.67 trillion transacted on the northern market.

The biggest winners were food service provider KLF, asset management corporation TVC and industrial development firm IDC, which added 4.5%, 3% and 2.4%, respectively.

Meanwhile, petroleum stocks were the major drags on the northern market. PVS fell 4.3% to VND27,000, PVC dipped 3.6% to VND10,600 and PVB decreased 2% to VND14,800.

In the HNX30 basket, LAS, MBS, SHS and BVS lost around 2%.

PVS was the most actively traded stock on the Hanoi bourse with 18.94 million shares traded, followed by lender SHB with 14.93 million shares and KLF with 12.64 million shares.

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