Stocks extend losses

29-Oct-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

Stocks on the Hochiminh Stock Exchange extended their losses for the second day on October 27, with the VN Index losing 4.33 points due to the poor performance of many bluechips.

With 102 gainers and 319 losers, the main index dropped 0.46 percent against the session earlier at 946.47 points.

More than 455.8 million shares worth VND8.7 trillion changed hands, up 6 percent in volume and 2 percent in value. Of the total, block deals accounted for nearly 41 million shares worth some VND1.1 trillion.

The market’s loss today was attributed to the weakened momentum of pillar stocks in the morning session, such as property firm VIC, and lenders CTG and VPB. They increased only 0.6%, 0.8 percent and 0.2%, respectively.

Bank stock TCB even fell below its reference price of VND23,300. Only steelmaker HPG rose 2 percent at VND31,400.

Meanwhile, housing developer VHM, retailer VRE and lender MBB put pressure on the index as they slid 1.2%, 2.7 percent and 2.7 percent at VND77,600, VND27,000 and VND17,900, respectively.

Especially, bank stock STB tumbled 5.7 percent at VND13,300 and led the southern bourse by liquidity with more than 37 million shares changing hands.

CTB, another bank stock, came second with matching volume of over 30.8 million shares, followed by HPG with 25.2 million shares and CTG with 11.2 million shares.

The bright spot of the market was real estate firm PDR, which surged in both price and liquidity. It shot up 6.9 percent to the ceiling price at VND41,050 and saw three million share changing hands.

On the Hanoi Stock Exchange, strong selling pressure dragged the HNX-Index down 1.9 points or 1.37 percent to 137.13 points. Trade volume amounted to more than 48 million shares, valued at VND675.5 billion.

Most large stocks closed the day in the red. For example, lender ACB dropped 1.6 percent at VND24,400, while securities firm VIX slipped 6.6 percent at VND11,400. Additionally, exporter TNG plummeted 4.1 percent at VND11,700.

ACB was the most actively traded stock in the northern bourse with over 11.7 million shares matched.


Category: Stocks, Vietnam

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