VN-Index extends losing streak
An investor monitors stock prices on a smartphone. The VN-Index of the Hochiminh Stock Exchange lost 4.74 points to close at its intraday low of 1,353.05 today, August 12 - PHOTO: VNA
HCMC - The VN-Index of the Hochiminh Stock Exchange lost 4.74 points to close at its intraday low of 1,353.05 today, August 12, due to heightened selling pressure on many pillar stocks, extending its losing streak for the second straight session.
At the close, the main index declined by 0.35% from the previous session, with 185 winners and 183 losers. Over 741.5 million shares worth VND22.7 trillion changed hands, down 8% in volume and 16% in value against the day earlier. Block deals contributed VND1 trillion to the total value.
Among the bluechips, lenders VCB and TCB were in negative territory, while consumer goods producer MSN and steelmaker HPG were the worst performers on the southern bourse, closing the day down 1.9% and 1.1%, respectively.
Mobile phone retailer MWG and tech firm FPT also suffered a strong drop, while electricity firm POW, jewelry firm PNJ, gas firm GAS and lender HDB lost 0.9% to 1.6% at the close.
Bank stock STB continued its downward spiral, but took the lead on the southern bourse by liquidity with over 27 million shares transacted.
Some other bank stocks such as CTG, VPB, EIB and MSB traded on positive territory, while real estate companies VIC and VHM, insurer BVH and rubber group GVR made strong gains.
Many speculative stocks such as property firm HBC, construction stock FCN and real estate firm DPG shot up to the ceiling prices and were among the most actively traded stocks, with HBC reporting a matching volume of 11 million shares.
Facing the same fate, the HNX-Index of the Hanoi Stock Exchange inched down 0.11 points, or 0.03%, from the session earlier, at 334.33 as many large-cap stocks came under strong selling pressure.
Lender SHB, oil and gas firm PVS, securities company MBS and asset management corporation TVC became major drags of the index, while port operator PHP plunged to the floor price.
SHB was the most actively traded stock on the northern bourse with over 15.1 million shares changing hands.
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