VN Index recovers as revenue slumps

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

The local stock market recovered today, July 4, having plummeted by 25 percent since achieving a record high on April 9 and reaching its lowest level since November 2017 in the previous session. However, the turnover reduced strongly as investors grew cautious.

The VN Index on the Hochiminh Stock Exchange added 8.98 points, or 0.99 percent, compared with Tuesday, to reach 914.99 points. There were 128 million shares, worth VND3.4 trillion, exchanged on the main bourse, down by 29 percent and 24.3 percent, respectively.

Property firm VHM led the market higher as it shot up to the ceiling price of VND110,800 per share on a matching volume of 1.36 million shares. Its parent firm VIC soared by 5.3 percent to VND105,000 per share, while VRE, another associated firm active in the retail sector, rose by a slight 0.7 percent to VND38,600 per share.

Lender CTG and steel maker HPG also made positive moves, gaining by 1.8 percent and 2.2 percent to reach VND21,900 and VND37,100 per share, respectively, with respective volumes of 4.1 million shares and 2.7 million shares.

On the negative side, leading gas firm GAS slumped by 4.2 percent to VND79,500 per share, while dairy giant VNM slipped by 1.7 percent to VND167,000 per share. Having debuted at the highest-ever initial price, entertainment firm YEG plunged to the floor price for the fourth straight session, closing at VND256,700 per share on a meager matching volume of 10,000 shares.

The HNX Index on the Hanoi Stock Exchange also broke a six-day losing streak, increasing by 1.19 points, or 1.21 percent, to reach 99.99 points. The market breadth was neutral, with gainers slightly outnumbering losers by 78 to 71.

Similar to its southern counterpart, turnover on the northern market contracted as volume and value both dropped by 23 percent and 27.8 percent, respectively, to reach 31.9 million shares worth nearly VND448 billion, including small block deals valued at VND28.4 billion.

ACB led the recovery as the bank climbed 3.2 percent to reach VND32,000 per share, with 4.1 million shares exchanged. Its fellow bank SHB was the volume leader, with nearly 5.5 million shares traded, rebounding by 1.3 percent to reach VND7,400 per share.

Foreigners extended their net selling to the third consecutive session. They sold a net 8.1 million shares worth VND462.4 billion on the HCM City market, chiefly VIC shares with a net selling value of nearly VND146 billion, VHM shares with VND108.8 billion and lender BID shares with VND49 billion.

On the Hanoi stock exchange, foreigners sold a net VND15.7 billion, focusing on petroleum technical service firm PVS, with a net selling value of VND13.6 billion.


Category: Stocks, Vietnam

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