Sell-off sinks VN Index

15-May-2021 Intellasia | The Saigon Times | 5:02 AM Print This Post

Selling pressure hit many blue-chip stocks at the end of the day, sending the VN Index of the Hochiminh Stock Exchange down by 7.1 points, or 0.56%, at 1,261.99 today, May 13.

Trade volume and value improved 1.5 percent and 3%, respectively, against the session earlier, at over 711.5 million shares worth some VND21.6 trillion. More than 31.1 million shares valued at VND1.3 trillion were traded in block deals.

Many blue-chip stocks in the VN30 basket tumbled, such as sugar maker SBT falling by 3.3 percent at VND20,750, property developer VIC by 2.5 percent at VND126,500 and lender TCB by 2.5 percent at VND48,000.

Bank stock CTG and real estate developer NVL were bright spots on the southern bourse. NVL added 3.1 percent at VND134,000 and saw 1.99 million shares changing hands, while CTG rose 3.3 percent at VND46,500 with more than 34 million shares traded, its highest-ever.

Bank stocks still led the bourse in terms of liquidity with STB taking the lead with more than 47.1 million shares transacted. In addition, 26.8 million MBB shares and 25.7 million VPB shares were matched.

Agricultural material firm TSC, insurer BMI and construction firm TGG closed at their ceiling prices.

Some other outstanding stocks were lender EIB which surged 6.5 percent at VND27,000, and steelmaker SMC which gained 3.7 percent at VND41,000.

In contrast to the VN Index, the HNX-Index extended its growth, mainly buoyed by a sharp increase of lender SHB.

Accordingly, SHB rocketed 9.7 percent to its ceiling price of VND 26,000 with over 28.46 million shares matched, far outpacing other stocks on the northern bourse.

Food producer PAN and paper firm SDG also contributed to the increase of the index with a respective rise of 4.8 percent and 9.6 percent at VND26,000 and VND40,000.

Meanwhile, most of other large-cap stocks closed the day in the red but their declines were mainly below 1%. Only petroleum stock PVS and industrial development firm IDC incurred heavier losses of 2.3 percent each at VND 21,700 and VND34,500, respectively.

Overall, the HNX-Index advanced 4.7 points, or 1.66%, at 287.03 points. Trade volume totalled over 118.8 million shares worth nearly VND2.6 trillion.


Category: Stocks, Vietnam

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