Blue chips drag VN Index down

15-Dec-2018 Intellasia | The Saigon Times | 6:00 AM Print This Post

Having rallied strongly on Wednesday, many blue chips on the Hochiminh Stock Exchange came under selling pressure today, December 13, pushing the VN Index down slightly at the close.

With 141 gainers and 147 losers, the main index fell 1.03 point, or 0.11 percent, versus the previous day at 960.25. Trading on the southern bourse slumped 22.6 percent in volume and 25.5 percent in value to 171.8 million shares and over VND3.8 trillion.

Bank stocks led the downtrend though they remained among the most actively traded stocks on the market. MBB, the volume leader in the sector with 6.7 million shares changing hands, fell 1.3 percent at VND22,200. CTG, which reported matching volume of 4.1 million shares, edged 1.5 percent lower, at VND23,150.

Some large caps bucked the trend, with dairy firm VNM adding 0.7 percent at VND135,000 and leading property company VIC gaining 0.6 percent at VND102,800. Steel maker HPG was the most heavily traded stock among heavyweights with 5.4 million shares traded, jumping 4 percent at VND21,000.

While blue chips saw poor transactions, many small and speculative stocks attracted investors.

ITA, an industrial zone operator, soared 5.6 percent at VND3,200 and led the southern market by liquidity with 11.3 million shares traded. Meanwhile, sugar firm SBT and seafood processor ASM ranked next with 8.9 million shares and 6.8 million shares transacted, adding 1.6 percent and 1 percent at VND12,900 and VND10,600, respectively.

NVT, which is active in the tourism property sector, stood out among small stocks as it went up to its ceiling price of VND7,580, extending its winning streak for a sixth straight session. Meanwhile, securities firm APG eased off its six-day winning streak, plunging to its floor price of VND9,300.

For the Hanoi Stock Exchange, the HNX-Index fell 0.35 percent at 107.3 points. However, trading on the market improved strongly as volume and value surged 25 percent and 45 percent against the previous day to 41.6 million shares and VND607 billion.

The put-through market saw nearly 11 million shares worth over VND142 billion traded, including 3.2 million shares of MSC, which operates in the agriculture and realty sectors, and 1.4 million shares of building materials firm VGC.

Among the large caps, construction firm VCG lost 2.3 percent at VND20,800 but it remained the volume leader on the northern exchange with nearly 3.2 million shares traded. Petroleum technical service firm PVS declined 0.5 percent at VND20,500 while lender SHB slid 1.3 percent at VND7,600.


Category: Stocks, Vietnam

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