VN-Index drops despite active foreign trading
HCMC – Despite strong selling by domestic investors, foreigners net bought over VND200 billion of shares on the two local exchanges on February 16.
On the Hochiminh Stock Exchange, they picked 12.9 million shares worth VND425.7 billion while selling 8.24 million shares worth VND245.8 billion, resulting in a net buying value of nearly VND180 billion. On Wednesday, their net buying value was VND114 billion.
CTG was the most bought stock of foreign investors with a net buying value of VND57.4 billion, followed by VNM with VND31.2 billion and HPG with VND14.5 billion. On the other hand, foreigners net sold VND12 billion of PVD shares.
On the Hanoi market, foreign investors bought 2.3 million shares worth VND35.4 billion and sold 1.3 million shares worth VND24.7 billion. Their net buying value widened to VND10.6 billion from VND180 million on the previous day.
PVS was heavily bought by foreigners with VND4.38 billion worth of shares, followed by VND with VND2.6 billion. They also net purchased over VND1 billion of SHB, VCG and HUT shares.
Meanwhile, the HCMC market retreated after four sessions in a row as selling pressure built up. With 112 stocks rising and 132 others closing in the red, the VN-Index fell 2.22 points, or 0.31%, against the day earlier to close at 709.35.
Turnover kept improving with more than 198 million shares worth nearly VND3.7 trillion changing hands, with bloc deals contributing 8.8 million shares worth over VND284 billion. The banking and oil-gas sectors, the key supporters of the VN-Index, faced the strongest pressure from sellers.
In the banking group, only CTG closed at the reference price while VCB, BID and PVD closed down. Other large caps such as VNM, VIC, HPG and BVH also failed to maintain their uptrend.
Banking stocks strongly attracted cash flow. STB jumped 5% to VND10,450 per share with 6.17 million shares traded, followed by CTG with 5.8 million shares, BID with 4.2 million shares and VCB with 1.35 million shares.
CII also gained 4.8% at VND32,800 per share on trading volume of 3.4 million shares after announcing its business goals for 2017. Meanwhile, steel enterprises performed poorly due to profit taking, with HPG, TLH and HSG reporting steep falls.
The Hanoi market closed at its intraday low as most pillars such as ACB, VCS, PVS and PVC dipped. With 79 stocks advancing and 81 others falling, the HNX-Index lost 0.67 point, or 0.77%, at 85.65.
The bourse saw 59.7 million shares worth VND551 billion traded, including VND17 billion in put-through transactions. Some small caps like HKB, KVC and KSK still hit the ceiling prices, in which HKB saw 3.8 million shares traded in matching deals.