Sell-off sinks VN-Index
A man monitors stock prices. The VN-Index falls while the HNX-Index gains today, May 13 - PHOTO: VNA
HCMC - Selling pressure hit many blue-chip stocks at the end of the day, sending the VN-Index of the Hochiminh Stock Exchange down by 7.1 points, or 0.56%, at 1,261.99 today, May 13.
Trade volume and value improved 1.5% and 3%, respectively, against the session earlier, at over 711.5 million shares worth some VND21.6 trillion. More than 31.1 million shares valued at VND1.3 trillion were traded in block deals.
Many blue-chip stocks in the VN30 basket tumbled, such as sugar maker SBT falling by 3.3% at VND20,750, property developer VIC by 2.5% at VND126,500 and lender TCB by 2.5% at VND48,000.
Bank stock CTG and real estate developer NVL were bright spots on the southern bourse. NVL added 3.1% at VND134,000 and saw 1.99 million shares changing hands, while CTG rose 3.3% at VND46,500 with more than 34 million shares traded, its highest-ever.
Bank stocks still led the bourse in terms of liquidity with STB taking the lead with more than 47.1 million shares transacted. In addition, 26.8 million MBB shares and 25.7 million VPB shares were matched.
Agricultural material firm TSC, insurer BMI and construction firm TGG closed at their ceiling prices.
Some other outstanding stocks were lender EIB which surged 6.5% at VND27,000, and steelmaker SMC which gained 3.7% at VND41,000.
In contrast to the VN-Index, the HNX-Index extended its growth, mainly buoyed by a sharp increase of lender SHB.
Accordingly, SHB rocketed 9.7% to its ceiling price of VND 26,000 with over 28.46 million shares matched, far outpacing other stocks on the northern bourse.
Food producer PAN and paper firm SDG also contributed to the increase of the index with a respective rise of 4.8% and 9.6% at VND26,000 and VND40,000.
Meanwhile, most of other large-cap stocks closed the day in the red but their declines were mainly below 1%. Only petroleum stock PVS and industrial development firm IDC incurred heavier losses of 2.3% each at VND 21,700 and VND34,500, respectively.
Overall, the HNX-Index advanced 4.7 points, or 1.66%, at 287.03 points. Trade volume totaled over 118.8 million shares worth nearly VND2.6 trillion.
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