Weak cash flow drives market down

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

Weak cash flow on July 9 pulled down the VN Index on the Ho Chi Minh Stock Exchange (HoSE) to 915.12 points.

The local market reported seesaw trading during the day, with the VN Index extending to 929.5 points in the morning session thanks to strong transactions in banking stocks. However, it lost 2.39 points to end at 915.12 points at the end of the trading day.

Over 118.6 million shares were transacted at a value of more than 2.71 trillion VND (119.24 million USD). The southern market saw 131 decliners and 145 gainers.

Meanwhile, green margins dominated the Hanoi Stock Exchange (HNX) with the HNX-Index rising slightly to 100.76 points. A total of 33.35 million shares were sold on the northern bourse at over 521.5 billion VND (22.94 million USD). There were 74 advancing codes, 55 stabilising codes, and 71 declining codes.

The VN30 Index, which tracks the performance of the 30 largest shares in terms of market capitalisation, fell 6.89 points although 14 had gains and 13 had losses.

Specifically, marked decline was recorded in Vietjet Aviation JSC (VJC) falling 2,400 VND; VinGroup (VIC) by 1,200 VND, Hoa Phat Group (HPG) by 1,100 VND, Mobile World Group (MWG) by 1,500 VND, and Hau Giang Pharmaceutical JSC (DHG) by 4,900 VND.

In contrast, the strongest gain was seen in Vinamilk (VNM)’s share with 1,000 VND.

Regarding banking stocks, Vietcombank (VCB) had the sharpest decline of 1,000 VND while other banking codes such as VPB, TPB, MBB, LPB, HDB, EIB, CTG, and BID all saw slight increases from 50 VND to 300 VND per share.

Oil and gas stocks stabilised throughout the day. Meanwhile, securities stock groups had weak performances with poor liquidity, and a line-up of steep decliners such as SSI, HCM and DSC, which went down 800 VND, 2,700 VND, and 4,300 VND, respectively.

The market may have been in a more dramatic plunge if there had not been elevation of VIC’s affiliate Vinhomes (VHM) and Vincome Retail (VRE) stocks.

Net selling by foreigners was strong as they sold 6.33 million shares at 150.02 billion VND (6.6 million USD) on the HoSE. Shares coded HPG, VIC and MSN sold like hot cakes. Meanwhile, the foreign players net bought 694,600 shares with a value of over 10.71 billion VND (471,240 USD) on the HNX.

https://en.vietnamplus.vn/weak-cash-flow-drives-market-down/134313.vnp

 


Category: Stocks, Vietnam

Print This Post