Stocks correct after 4-day rallies

03-Aug-2018 Intellasia | The Saigontimes | 6:02 AM Print This Post

Stocks encountered a slight correction after a four-day rising streak today, August 1, though trade remained active.

With 126 stocks rising and 169 others sliding, the VN Index of the Hochiminh Stock Exchange fell 3.62 points, or 0.38 percent, at 952.77. There were 202 million shares worth VND4.4 trillion changing hands on the southern bourse, down 16.6 percent and 4.8 percent against the previous day, respectively.

Most large caps stayed almost flat. Having jumped sharply on Tuesday, lender TCB dropped 0.9 percent at VND27,550 per share with matching volume of two million shares.

CTG was the volume leader in the banking sector with 4.1 million shares traded but it dipped nearly 1.7 percent at VND23,200 per share. VHM, a housing developer, made the most negative contribution to the main index as it lost 1.5 percent at VND108,600 a share.

Among small stocks, property firm HQC and industrial zone operator ITA went up to their daily limits with matching volume of 10.7 million shares and three million shares, respectively. Realty firm FLC, meanwhile, declined 2.9 percent at VND6,350 per share and led the market by liquidity with 22.2 million shares traded.

HAG, another real estate enterprise, tumbled to near its lower limit, closing at VND7,100 a share. It was the second most heavily traded stock on the exchange with 12.6 million shares transacted.

The HNX-Index of the Hanoi Stock Exchange slid for the second straight session, edging down 0.56 percent at 105.56 points. Trading on the market sharply improved as volume and value climbed 17.6 percent and 33.5 percent at nearly 47.2 million shares worth VND613 billion.

PVS, an oil and gas firm, stole the limelight, adding 3.5 percent at VND17,800 per share. The firm was the most liquid stock on the northern bourse with matching volume of 10.6 million shares.

Lender SHB ranked second for liquidity with 7.5 million shares but it dropped 1.2 percent at VND8,000 per share. Its fellow bank ACB fell 0.8 percent at VND35,500 a share with volume of 3.3 million shares.

Among small stocks, KLF, which is active in the trading and food service sector, was the third most actively traded stock with 5.9 million shares exchanged. It closed the day unchanged at VND2,500 per share.

Foreigners stayed on the selling side for the third consecutive session, net selling VND237.6 billion worth of shares on the HCM City market. The investors, meanwhile, net sold VND3.2 billion on the Hanoi exchange.

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Category: Stocks, Vietnam

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