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VIC saves VN-Index from sharp decline amid strong selling pressure

The Saigon Times

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HCMC – Despite the strong selling pressure, the big-cap stock VIC helped reduce the loss of the local stock market today, December 22.

Closing the day, the benchmark index lost 1.07 points, or 0.07%, from the session earlier at 1,477.6 points.

Turnover on the southern bourse improved with volume and value increasing 18.4% and 17.3%, respectively, at nearly 1.1 billion shares and over VND33.6 trillion. Shares traded in block deals contributed more than VND1.9 trillion to the overall value.

Real estate stocks still flew high as 10 of them ended at their daily ceiling prices and only nine lost steam. Among rising ones, VIC added 1.53% at VND99,600, contributing the most to the VN-Index.

As for bank stocks, only three tickers—VCB, MSB and EIB—were traded in the green. Of which, EIB rose 2.06% at VND27,300, and the two others inched up slightly.

HDB reported the steepest fall among bank stocks, at 5.1%, followed by SHB with 3.26% and TPB, OCB and STB with over 2% each.

The group of securities stocks was even gloomier as only TVS hit its ceiling price while the remainder fell. FTS posted the sharpest fall, at 6.45%. In addition, SSI declined 2.67% and VCI slid 2.26%.

Steel stocks faced the same fate when only TNI and TNA edged up and three stocks closed at their reference prices. Among losing ones, HPG tumbled 2.17%, putting the greatest pressure on the main index, and NKG lost 2.64%.

Rubber group GVR and consumer goods company MSN also contributed significantly to the main index. They gained 3.4% and 2%, respectively.

Moreover, construction firm ROS hit its ceiling price, at VND12,850, and saw 36.66 million shares changing hands.

Property developers DLG and TCH, trader HHS and furniture producer TTF also ended at their ceiling prices.

On the Hanoi Stock Exchange, the HNX-Index lost 1.91 points, or 0.42%, at 453.1 points. There were 151.4 million shares worth nearly VND4.5 trillion transacted.

Construction firm CEO maintained its rising momentum, surging 6.8% at VND65,800, and led the northern bourse by liquidity with 11.35 million shares matched.

Among large-cap stocks, securities firm SHS fell 3.14% and insurer PVI lost 3.65%.

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