Stock rises lose steam

09-Jun-2018 Intellasia | VNS | 6:02 AM Print This Post

Stocks managed to advance for a sixth consecutive session on June 7, but the VN Index rise was insignificant as sell orders overwhelmed the market after a long winning streak.

The VN Index of the Hochiminh Stock Exchange inched up a slight 2.19 points, or 0.21 percent, against the previous day at 1,036.69, with TCB making the biggest positive move. The lender shot up to its upper price of VND98,400 a share, having slumped for three sessions in a row since its debut early this week.

Trading volume on the HCM City exchange rose a slight 7 percent at over 173 million shares while value was almost unchanged at VND5 trillion. The put-through market was quiet as only 21.3 million shares worth VND679 billion were traded.

The banking sector was mixed with MBB, HDB and VPB rising, STB and EIB falling, and TPB closing at its reference price. MBB was the most actively traded stock in the banking sector with 9.3 million shares changing hands, followed by STB with 7.1 million shares and VPB with over two million shares.

The VN30 basket saw 18 stocks losing ground. Steel maker HSG tumbled 3.5 percent at VND12,300 a share with 3.3 million shares transacted. MWG, an electronics store chain operator, declined 1.8 percent at VND116,400 a share and construction form CTD lost 2.6 percent at VND159,700 per share.

Among the gainers, low-cost airline VJC added 2.5 percent at VND179,000 per share, extending its rising streak to the sixth straight day. MSN, a consumer goods producer, increased 2.1 percent at VND87,300 a share and property firm NVL jumped 4.4 percent at VND54,400 per share.

Meanwhile, a heavy selloff hit most large-cap stocks on the Hanoi stock market, pushing the HNX-Index down 1.43 points, or 1.18 percent, at 118.99. There were 48.1 million shares worth VND709.4 billion changing hands at the end of the day, down 12 percent and 9 percent respectively.

For the finance and banking sector, lender ACB dipped 2.1 percent at VND42,200 a share with matching volume of 5.2 million shares while securities firm SHS fell 2.9 percent at VND16,800 per share. Bank SHB remained the volume leader with 7.4 million shares traded; it lost 3.1 percent at VND9,400 per share.

On the positive side, property group CEO gained 2.3 percent at VND17,500 per share. PVI, an insurance firm, increased 1.2 percent at VND34,200 a share and reported volume of over 500,000 shares.

Foreign investors shifted back to the buying side as they net purchased VND219 billion of shares on the HCM City market and VND17 billion on the Hanoi exchange.


Category: Stocks, Vietnam

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