Stocks mixed as earnings data looms
Stocks mixed as earnings data looms
Shares were mixed on the country's two stock exchanges yesterday as investors waited for a string of corporate earnings reports.
On the HCM City Stock Exchange, those falling outnumbered those climbing by 108-82 but the VN-Index still closed in the black, edging up by just 0.02 per cent to end at 494.10 points.
Blue chips slowed down in the afternoon, but some kept performing well after oversees investors made a series of purchases including steelmakers Hoa Sen (HSG) and Hoa Phat Group's (HPG), property developer Hoang Anh Gia Lai Corp (HAG) and insurer Bao Viet Holdings (BVH), up from 1.6 per cent to 3.5 per cent.
HAG was also the most active share yesterday, with 3 million shares changing hands for VND21,900 (US$1.05) a share.
The VN30 tracking the top 30 shares, by market capitalisation and liquidity, rose fractionally by 0.06 per cent to finish at 548.60 points.
The market's total value was down by 20 per cent from the previous session to VND953 billion (US$45.4 million) with 43.5 million shares traded. However trading in the top 30 shares accounted for 67 per cent of the market's total value.
According to stock analysts, the Phu Hung Securities Company, the market saw some corrections after overheating last week, but still showed some positive signs with the total traded volume remaining over 40 million shares, higher than recent average daily market volumes.
"Investors are waiting for the business results from the second quarter and the first half of this year. They are paying a lot of attention to thermal power, rubber and chemical companies as they are all sound indicators," wrote financial analysts.
The HCM City exchange announced that shares in the Phu Nhuan Jewellery Company (PNJ) and the Development Investment Construction Corp (DIG) will be removed from the VN30 basket starting July 22 and that the PetroVietnam General Services Corp (PET) and Pha Lai Thermal Power Co (PPC) will be added in their place.
On the Ha Noi Stock Exchange, the HNX-Index slid back by 0.14 per cent to close the session at 63.03 points, but the value of most trades remained modest at just VND148 billion ($7 million).
Property developer Sacomreal (SCR) continued to be the most active code in the afternoon, with nearly 3.2 million shares changing hands for VND7,300 each.
Foreign investors were busy yesterday as buyers on both stock exchanges. They picked up shares worth a total of VND39 billion ($1.9 million).
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