Selloff pressure ends VN-Index’s winning streak
The Saigon Times
|A trader watches stock prices on a screen. The VN-Index of the Hochiminh Stock Exchange lost 0.47% to close at 1,250.57 points on Thursday – PHOTO: TRAN LINH|
HCMC – Under selloff pressure, the VN-Index of the Hochiminh Stock Exchange dropped 0.47%, or 5.86 points, to close at 1,250.57 points today, May 6, ending a winning streak of five sessions.
Losing stocks far outnumbered winners by 262 to 148. The southern market saw 730.5 million shares worth VND20.3 trillion change hands, falling 2% in volume and 5% in value against the session earlier. More than 58 million shares worth nearly VND2.3 trillion were traded in block deals.
Selloff pressure in the afternoon made many bluechips reverse course to end lower. In the VN30 basket, 23 stocks lost ground.
Electricity firm POW was the steepest decliner, dropping 3.1% to VND12,300, followed by dairy producer VNM, which went down 2.6% to VND89,600 and brokerage SSI, down 2.2% to VND32,850. Budget carrier VJC fell 2% to VND122,000, lender VCB lost 1.9% to VND99,300 and lender TPB dropped 1.7% to VND28,150.
VIC, VHM, HDB, PNJ CTG, STB and VRE lost 0.9-1.3%, while PLX, MBB, MSN, GAS and FPT fell slightly.
In contrast, refrigeration electrical engineering firm REE was the biggest gainer, soaring 4.4% to VND69,300, followed by lender TCB, which rose 2.5% to VND47,100. Both real estate developer NVL and lender VPB increased 2% to close at VND135,700 and VND61,800, respectively.
Lender STB was the most actively traded stock among heavyweights with 34.2 million shares changing hands, followed by its peers VPB and TCB with 28.8 million and 26.7 million shares traded, respectively. Lenders CTG and MBB had approximately 19 million shares changing hands each.
In the group of speculative stocks, construction firm ROS rose 2.3% to VND6,570 and property developer FLC rose 1.3% to VND11,300. ROS and FLC led the southern bourse in terms of liquidity with more than 40 million shares changing hands each.
FIR and ITD shot up to the ceiling prices. Meanwhile, AMD, HAI, HQC, TTF, TSC, HNG, AAA, KBC and GEX finished the day down.
On the Hanoi Stock Exchange, the HNX-Index inched up 0.06%, or 0.16 points, to close at 281.09 points, though decliners outnumbered gainers by 86 to 52. There were more than 112 million shares worth some VND2 trillion changing hands.
Lender SHB and electrical technology corporation GLT were the major contributors, rising 2.1% to VND24,500 and 8% to VND27,000, respectively. TVC, IDC, THD, BSI and VGS rose slightly.
Some large-cap stocks that lost ground included petroleum stock PVS, down 2.3% to VND21,100, securities company SHS, down 2.5% to VND27,800 and property enterprise CEO, down 3% to VND9,800.