Stocks crash to near 900 points

05-Jul-2018 Intellasia | | 6:02 AM Print This Post

A global leading provider of research-based indexes and analytics, is expected to raise the weight of Vietnamese shares in its MSCI Frontier Markets portfolio in the next review, but this good news still failed to save the local market from plummeting for the second straight session today, July 3.

The Ho Chi Minh Stock Exchange saw 63 stocks rising while 248 stocks declined, of which 45 stocks plunged to floor prices. As a result, the VN Index shed a whopping 41.14 points, or 4.34 percent, from the previous day to 906.01.

Banks led the market lower, with five out of nine listed lenders closing at floor prices. For the remaining four stocks, MBB and HDB lost more than 5 percent each, while VCB declined by 3.6 percent, though foreign investors net bought more than 1.1 million shares of the bank.

Most lenders reported bustling trade, in which CTG led the southern market for liquidity with 12.6 million shares being traded. However, CTG tumbled to the floor price of VND21,500 per share, chiefly due to foreign net selling of more than 3.1 million shares.

Besides this, property giant VIC and its affiliate VHM were active on the negative side as they both closed at the floor prices of VND99,700 and VND103,600 per share, respectively. Newly listed entertainment firm YEG hit its floor trading for the second straight session, standing at VND276,000 per share, but it remained the leader in terms of market value.

Among the gainers, sugar firm SBT and plastic firm AAA advanced by 1.7 percent and 0.3 percent to reach VND14,700 and VND18,300 per share, on a matching volume of 1.8 million shares and 3.1 million shares, respectively.

The Hanoi market extended its losing streak to the sixth consecutive day, pushing the HNX Index to the intraday low of 98.8, dipping by 3.86 percent against the previous session. There were 41.4 million shares, worth VND619.4 billion, changing hands on the northern bourse, down by 9.2 percent and 16.8 percent, respectively.

SHB was the leader in terms of volume, with 7.7 million shares traded, but the bank slumped by 6.4 percent to VND7,300 per share. Other banks performed poorly, with ACB losing 6.9 percent to reach VND31,000 per share and NVB sliding by 2.7 percent to VND7,200 per share.

Other heavyweights also declined, in which oil and gas stock PVS fell by 4.2 percent to VND16,000 per share, with 2.8 million shares being transacted, while securities firm SHS declined by 8.3 percent to VND11,800 per share. Notably, building material firms VGC and VCS bucked the trend for adding nearly 1 percent to reach VND20,900 and VND85,300 per share, respectively.


Category: Stocks, Vietnam

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