Strong selling pressure sends stocks down

17-Oct-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

Selling pressure and investor caution pushed the VN Index down slightly at 993.05 points today, October 15.

With 133 stocks rising and 169 others falling, the benchmark index on the Hochiminh Stock Exchange declined 0.05 percent against the session earlier. Trade volume totalled 179.97 million shares, down 7 percent from the day earlier, and value dropped 7 percent at VND4.01 trillion.

In block deals, there were 48.64 million shares worth VND1.3 trillion changing hands.

Property firm VHM was the key reason behind the market decline as it slid 1.7 percent at VND86,400 per share. The market also saw poor trade of shares of gas firm GAS, dairy producer VNM, brewery firm SAB and steelmaker HPG, putting pressure on the VN Index.

Meanwhile, bank stocks prevented the southern bourse from suffering a heavier loss. Lender TCB closed the day up 1.5 percent, while lenders VCB, BID and VPB added 0.2 percent, 0.6 percent and 1.1 percent.

Construction firm ROS still led the market by liquidity with some 21.8 million shares traded. Its price went down 0.4 percent to VND25,650 per share.

Property developer FLC bucked the downward trend, continuing its upward spiral to end the day up 6.76 percent, with 2.78 million shares transacted.

On the Hanoi Stock Exchange, the HNX-Index reversed course after five days of rising, closing the session down 0.04 points at 106.01.

The northern bourse saw 23.95 million shares worth nearly VND281.6 billion traded, tumbling 14.3 percent in volume and 29.5 percent in value against the session earlier.

After two consecutive falling sessions, stone manufacturer VCS closed the day up 1.65 percent at VND86,000 per share.

Meanwhile, some large-cap stocks, such as lender ACB, gas firm PVS, insurer PVI and securities firms BVS, edged down.

Trading and food service firm KLF, an arm of FLC, was the most actively traded stock on the Hanoi bourse, with 3.55 million shares traded.

Foreign investors net sold over VND160 billion of shares on the southern exchange and net bought over VND140 billion of shares on the northern bourse on October 15.


Category: Stocks, Vietnam

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