Southern stock market inches down

09-Nov-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

Having increased for four straight sessions, the VN Index suffered a slight decline today, November 7, as large-cap stocks, especially a trio of Vingroup stocks, struggled, amid market caution.

Market breadth on the Hochiminh Stock Exchange turned negative with 177 decliners and 141 advancers. As a result, the benchmark VN Index edged down 0.09 percent from a day earlier to close the day at 1,024.03 points.

Trading volume and value on the southern bourse fell by 14 percent and 10 percent against the previous day to around 193 million shares worth more than VND4.2 trillion, respectively. Of the total, block deals accounted for 26.5 million shares worth some VND834 billion. The stock VIC of Vietnam’s largest private conglomerate dropped by 0.9 percent against Wednesday to end at VND120,800 while its affiliates, housing developer VHM and retailer VRE, made gains of a mere 0.1 percent each.

Lender BID and steelmaker HPG were the leading gainers as their prices rose by 2 percent and 3.2 percent to VND41,600 and VND22,700 per share.

A number of blue chips, such as national flag carrier HVN, consumer goods firm MSN, lenders VCB and TCB, gas firm GAS, and mobile phone retailer MWG, were in positive territory.

Notably, lender EIB, which slid 2.6 percent in the morning, jumped 5.8 percent in the afternoon to VND18,400 per share.

Conversely, insurer BVH, property developer NVL, dairy producer VNM, fuel distributor PLX, and lender STB were the major drag as their values slid from 0.5 percent to 1.3%.

Construction firm ROS and steelmaker HPG remained the most actively traded stocks on the southern market on matching volume of 27.6 million and 13.2 million shares, respectively.

Among small stocks, HVG, one of the biggest seafood exporters in Vietnam by revenue, shot up to its ceiling price of VND5,950 with nearly 3.6 million shares transacted.

On the Hanoi Stock Exchange, the HNX-Index inched up 0.13 percent against the previous day to 106.88 points. More than 21 million shares worth VND278 billion changed hands on the northern bourse.

The index was underpinned by lender SHB, detergent producer DGC, realty firm CEO, securities firm MBS, electric device producer MBG, and construction firm C69, whose gains ranged from 1.5 percent to 8.8%.

In contrast, quartz stone producer VCS, construction VCG, lender NVB, and plastics producer NTP all fell.

Lender ACB, the leading stock by market capitalisation on the northern market, hovered around its reference level for the third straight day. It was the most liquid stock with more than two million shares changing hands.


Category: Stocks, Vietnam

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