Shares drop on slug­gish trades

Viet Nam News - - Markets -

HAØ NOÄI — The VN-In­dex on the south­ern bourse fell on slug­gish trad­ing yes­ter­day, fol­low­ing a tech­ni­cal re­bound on Tues­day.

The VN-In­dex lost 2.91 points, or 0.49 per cent, to end at 589.33 points, as the bench­mark in­dex fluc­tu­ated with nar­row am­pli­tudes dur­ing the ses­sion, with a mod­est cap­i­tal in­flow as buy­ers dis­played a cau­tious psy­chol­ogy.

More than 81 mil­lion shares changed hands, val­ued at VNÑ1.68 tril­lion (US$79.2 mil­lion), slightly above the pre­vi­ous trad­ing.

On the south­ern bourse, 85 codes ad­vanced, while 109 posted losses and 83 oth­ers tread wa­ter.

Track­ing the per­for­mance of the ex­change’s largest stocks by cap­i­tal­i­sa­tion and liq­uid­ity, the VN30- In­dex ended 0.71 per cent lower, at 629.07 points, with de­clin­ers over­whelm­ing ad­vancers by 18-7.

Also, the loss of large­cap stocks late yes­ter­day af­ter­noon widened the VN-

The VN-In­dex lost 2.91 points to end at 589.33 points, as the bench­mark in­dex fluc­tu­ated with nar­row am­pli­tudes dur­ing the ses­sion, with a mod­est cap­i­tal in­flow as

buy­ers dis­played a cau­tious psy­chol­ogy.

In­dex drop.

Those in­cluded mar­ket pil­lars such as Masan Group (MSN), which slid 2.82 per cent to VNÑ88,500 ($4.17), along with Baûo Vieät Hold­ings ( BVH), Vi­namilk (VNM), Ñaø Naüng Rub­ber Cor­po­ra­tion ( DRC) and Kinh Ñoâ Cor­po­ra­tion (KDC).

Mean­while, FLC Group (FLC) fin­ished up 3.1 per cent at VNÑ12,900 ($0.6) per share, with a sig­nif­i­cant 24 mil­lion shares chang­ing hands – top­ping the bourse by trad­ing vol­ume – on pos­i­tive sec­ond quar­ter earn­ings with the ex­pected re­lease for sale of FLC Gar­den City and FLC Com­plex 36 Phaïm Huøng at the end of this year.

FLC was fol­lowed by Sacom In­vest­ment and Devel­op­ment Cor­po­ra­tion (SAM) by trad­ing vol­ume, with 5.1 mil­lions shares traded, 1.29 mil­lion of which were pur­chased by for­eign in­vestors. The stock ended up 6 per cent to VNÑ10,600 ($ 0.5) per share.

The ar­rest of three officials, who held top man­age­ment po­si­tions at Vieät Nam Con­struc­tion Bank, low­ered stock val­ues in the bank­ing sec­tor yes­ter­day.

Ex­clud­ing BIDV (BID) and Saøi Goøn-Haø Noäi Bank (SHB), other bank­ing stocks closed down, in­clud­ing Eximbank (EIB), Mil­i­tary Bank (MBB), Vi­et­com­bank (VCB), Sa­com­bank (STB) and Vi­et­inbank (CTG).

Both the HNX- In­dex and the HNXFF- In­dex, com­posed of stocks with min­i­mum free float rates of 5 per cent, ended flat at, re­spec­tively, 78.28 points and 78.07 points on a low-pace trad­ing.

The HNX30- In­dex added 0.04 points, or 0.03 per cent, to fin­ish at 155.61 points.

The trad­ing vol­ume and value were mod­est at 26.5 mil­lion shares and VNÑ322.1 bil­lion ($ 15.2 mil­lion).

Ac­cord­ing to Vieät Nam In­vest­ment Se­cu­ri­ties, the mar­ket showed lit­tle re­ac­tion to the in­for­ma­tion that Moody ’ s up­graded Vieät Nam ’ s credit rat­ing, re­flected through more than 500 codes end­ing un­changed to­gether, with hun­dreds see­ing no trans­ac­tions yes­ter­day.

The com­pany said in­vestors should lower hold­ings of stocks in their port­fo­lios un­til mar­ket op­por­tu­ni­ties be­come more trans­par­ent.

A los­ing trad­ing ses­sion was ex­pected to­day, as Vieät Nam In­vest­ment Se­cu­ri­ties said that the VN- In­dex would drop to 585 points be­fore begin­ning a chal­leng­ing Au­gust. —

Newspapers in English

Newspapers from Viet Nam

© PressReader. All rights reserved.