Stock market closes in downbeat mood
Traders are at work at a securities firm in HCMC. The VN-Index of the Hochiminh Stock Exchange fell by 10.84 points, or 0.79%, today, June 16 – PHOTO: THANH HOA.
HCMC - Waning cash flow into many blue-chips, mainly bank stocks, sent the VN-Index of the Hochiminh Stock Exchange falling by 10.84 points, or 0.79%, today, June 16.
The benchmark index closed at 1,356.52 points on the southern bourse, with 176 gainers and 222 losers. Trade volume advanced 5.3%, from the session earlier, at 769.6 million shares, while the trade value lost 4% at VND23.4 trillion. Over 29 million shares worth VND1.3 trillion were traded in block deals.
In the group of bank stocks, only three stocks VCB, BID, and VPB, gained ground.
Other lenders were in negative territory, with SSB, LPB, and TCB tumbling by over 3% at the close.
The negative performance of many securities stocks also contributed to the decline of the southern bourse, with SSI reporting the sharpest drop, down 5%, and VCI, APG, and AGR dipping by 2.9%-3.4%.
Other losers on the southern bourse were property group VIC, housing developer VHM and consumer goods stock MSN.
On the positive side, gas firm GAS reversed course to 3.6%, while other fuel stocks such as PLX and PVD improved by over 2%.
Many midcaps and penny stocks were the outstanding cash magnets, with real estate developer DLG hitting the ceiling price and reporting a matching volume of 15 million shares. Agricultural material firm TSC and housing developer TDH, and shipping firm VOS also shot up to their ceiling prices at the close.
The HNX-Index of the Hanoi Stock Exchange lost 4.64 points, or 1.46%, against the previous session, at 313.65, as strong selling pressure hit many bank and securities stocks.
The northern bourse saw 184 million shares worth VND4.5 trillion shares change hands, down 18.4% in volume and 28.7% in value, from the session earlier.
Lender SHB closed at its intra-day low at VND27,000 but took the lead on the northern market by liquidity, with 43.6 million shares traded.
Securities stocks VND, SHS, MBS, and APS, finished the day down 3.6%-4.5%, piling pressure on the northern market.
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