Stocks fall below 900 points

07-Jul-2018 Intellasia | The Saigon Times | 6:02 AM Print This Post

Selling pressures on July 5 sank Vietnamese stocks following a single-session recovery the previous day, dragging the VN Index of the Hochiminh Stock Exchange down 15.59 points, or 1.7 percent, at 899.4.

The market turned negative as decliners far outnumbered advancers, 224 to 71. Also, turnover on the main bourse remained low, with volume and value rising 11.7 percent and 7.1 percent against the previous day, at 143 million shares worth VND3.6 trillion.

Among major stocks, GAS put the most pressure on the main index, as the leading gas group plunged to the floor price of VND74,000 per share. The firm extended its losing streak to the fourth straight session.

Also, banks continued falling, in which VCB lost 6.5 percent at VND52,000 per share, and CTG fell 6.4 percent at VND20,500 per share. Both BID and MBB declined 5.7 percent at VND21,600 and VND22,500 per share, respectively, while VPB, HDB and STB dropped over 4 percent each.

TCB, meanwhile, added 4.3 percent at VND28,150 per share, as today was the ex-dividend date for shareholders of the lender to receive bonus shares at a 1-for-2 ratio. STB and CTG saw over 5.5 million shares each changing hands, while MBB reported a matching volume of 4.5 million shares.

Notably, foreigners purchased a net volume of nearly 634,000 shares of HDB, valued at VND21.2 billion. The bank today announced it would spend more than VND1.2 trillion paying a 2018 first round dividend of 13 percent in cash to shareholders.

Property firms VIC and VHM were also strong gainers, rising 1.4 percent and 2.9 percent at VND106,500 and VND114,000 per share, respectively. NVT, a property enterprise, went up to the ceiling price for the third straight session to close at VND5,810 per share on a volume of 430,000 shares.

Among small stocks, FLC was the most actively traded stock on the southern market, with 6.9 million traded, though the property firm fell 2.1 percent at VND4,560 per share.

The HNX-Index of the Hanoi Stock Exchange slumped 3.6 percent at 96.39. Trading volume and value on the bourse improved 8 percent and 10 percent versus Wednesday, at 39.1 million shares worth VND512.5 billion.

The HNX30 basket saw only three rising stocks, while the remaining stocks declined significantly. Building material producer VGC and lender ACB were top losers, as they plunged to the floor prices of VND18,500 per share and lost 6.6 percent at VND29,900 per share, respectively.

Lender SHB was again the volume leader, with nearly 5.6 million shares traded but falling 4 percent, at VND7,100 per share. ACB ranked second for liquidity with 4.9 million shares traded, followed by VGC with 4.1 million shares traded.


Category: Stocks, Vietnam

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