Markets rebalance after Monday gains
Markets rebalance after Monday gains
Shares reversed the upward trend on Monday, closing on a low note on both national stock exchanges yesterday.
On the HCM City Stock Exchange, the VN-Index tumbled 0.35 per cent to reach 504.71 points.
The market lost its buoyancy yesterday with lower trading volume and value, 21 and 18 per cent lower than Monday, respectively.
The total trading value reached VND1.194 trillion (US$56.85 million) out of a volume of 96.54 million shares.
The VN30-Index, tracking the southern city's top shares in capitalisation and liquidity, also lost 0.08 per cent falling to 564.89 points. Losses outnumbered gainers by 10-8.
Vingroup (VIC) which earned VND1,000 ($0.048) per share to VND68,000 ($3.23) and Hoa Sen Group (HSG) increased 1.5 per cent to VND41,500 ($1.97) per share.
PetroVietnam Low Pressure Gas Distribution (PGD), Pha Lai Thermoelectric Plant (PPC), Ocean Group (OGC), FPT Group (FPT) each rose VND200 ($0.0095) per share and logistics company Gemadept (GMD) and Ree Corporation (REE) were valued VND100 ($0.0048) higher.
Losers included big names like Vietcombank (VCB), Kinh Do (KDC), Hoa Phat (HPG) and Hoang Anh Gia Lai (HAG). Overall, 120 coded in the southern bourse managed to increase while 84 lost yesterday.
On Ha Noi Stock Exchange, the HNX-Index was 0.06 per cent lower than Monday, finishing at 64.36 points, with more than 39.64 million shares traded, the total value reached VND305.87 billion ($14.56 million).
The HNX30-Index, composed of the capital city's top shares, increased 0.1 per cent to 122.61 points.
However, despite the overall declines yesterday, FPT Securities reserved optimism for the market.
Yesterday's cash flow targetted shares with good business results in the third quarter, reflecting expectations of investors for the last quarter.
According to the Viet Nam Investment Securities, slight increases in the benchmark indices were still expected with a boom of liquidity.
vietnamnews
