Steep bluechip falls strike main index

30-Nov-2019 Intellasia | The SaigonTimes | 6:02 AM Print This Post

Despite strong bottom fishing just ahead of the close of the session today, November 28, the VN Index plunged by 7.78 points, triggered by the steep declines of bluechip shares.

With losers outnumbering gainers by 219 to 101, the VN Index of the Hochiminh Stock Exchange fell 0.8 percent against the previous session to close at 970.39 points. Trade volume inched down 3 percent at 191.2 million shares, but value improved 16 percent at VND4.2 trillion. Some 36.8 million shares were traded in block deals with a total value of VND911.5 billion.

As for the bluechips, dairy firm VNM, steelmaker HPG, lender STB, securities firm SSI and sugar firm SBT closed at their reference prices.

Meanwhile, heavy selling hit mobile phone retailer MWG, construction firm CTD, lender HDB, consumer goods company MSN, lender MBB and tech firm FPT.

In addition, lender VCB, jewellery firm PNJ and retailer VRE underperformed, with respective falls of 1.2%, 1.3 percent and 1.5%.

Construction firm ROS still led the market by liquidity with some 35 million shares transacted, but fell 0.6 percent at VND24,850, followed by property developer FLC with over 8.8 million shares changing hands.

Many speculative stocks attracted huge amounts of cash on the HCM City market, including industrial firm HHS, financial firm FIT, mining firm HCD and agricultural material company TSC. These stocks shot up to their ceiling prices.

The Hanoi Stock Exchange remained gloomy as the HNX-Index closed down 0.89 point at 102.34. Many large-cap stocks were the major drags on the index.

Apart from the fall of lender ACB, industrial firm VCS, gas firm PVS, securities firm MBS and lender SHB shed 3.6%, 2.3%, 3.8 percent and 1.6%, respectively.

SHB was the most actively traded stock on the Hanoi bourse with over 1.9 million shares changing hands.

Foreign investors net bought VND49 billion of shares on the HCM City exchange, but net sold VND1 billion on the Hanoi bourse.


Category: Stocks, Vietnam

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