Sell-off, system error behind VN-Index decline
The Saigon Times
|A trader of a securities firm monitors stock prices. The VN-Index lost 0.42 points at 1,168.27 today, March 8, with 274 advancers and 183 decliners – PHOTO: VNA|
HCMC – Strong selling pressure and the overload of order placing on the Hochiminh Stock Exchange sent the VN-Index down slightly today, March 8.
At the close, the main index lost 0.42 points, or 0.04%, from the session earlier, at 1,168.27, with 274 advancers and 183 decliners. Trade volume totaled over 652 million shares worth VND15.6 trillion, up 9.7% in volume and 4% in value against the previous session. There were 25.2 million shares valued at VND1.2 trillion traded in block deals.
The bluechip group was one of key drags on the southern bourse, with housing developer VHM, lender VCB and consumer goods company MSN dipping by 1.2%-2% each.
Other largecaps such as bank stock TCB, dairy firm VNM, retailer VRE and tech firm FPT were in negative territory.
In the group, electricity firm POW stole the limelight as the stock jumped by 5.2% at the end and reported a matching volume of 34.2 million shares.
Many small and medium stocks, including real estate stock HQC, furniture maker TTF and realty developer DRH, closed at their ceiling prices.
Continuing its upward spiral, the HNX-Index of the Hanoi Stock Exchange finished the day up 3.61 points, or 1.39%, from the session earlier, at 263.42. Some 143.3 million shares worth VND2 trillion changed hands.
In the HNX30 basket, lender NVB, fertilizer firm LAS and hydraulic construction company LHC lost ground, while other stocks stood at the reference prices or gained steam.
Lender SHB took the lead on the northern bourse by liquidity, with over 16 million shares changing hands, followed by petroleum stock PVS with a matching volume of 14 million shares.