Benchmark indices narrow losses
Benchmark indices narrow losses
The market saw a slight recovery later yesterday as losses of benchmark indices narrowed, in comparison with Monday, as selling pressures eased.
On the HCM City Exchange, the VN-Index closed down 0.59 per cent at 569.97, after dropping more than 13 points in the previous session.
More than 125.5 million shares were traded, with a total value of VND1.95 trillion (US$92.8 million).
Several blue chips managed to increase in the afternoon trading, narrowing the morning's losses. Twenty-seven blue chips closed the morning trading in the red, however, the number of losers decreased to 19, ending the day, still overwhelming gainers which numbered seven.
Gainers included Hoa Sen Group (HSG), PetroVietnam Transportation Corporation (PVT), Saigon Securities Inc (SSI), HCM City Infrastructure Investment Corporation (CII) and Pha Lai Thermoelectric Company (PPC).
However, with losses from Vinamilk (VNM), real estate giant Vingroup (VIC), PetroVietnam Drilling Corporation (PVD), PetroVietnam Drilling (PVD), Masan Group (MSN) and Kinh Do (KDC), the VN30-Index dropped 0.8 per cent to end at 638.79 points.
Further, yesterday's loss was not as large as Monday, with gainers increasing from 45 to 108 codes and losers decreasing from 212 to 112 codes.
On the Ha Noi Exchange, 71 million shares changed hands yesterday, at a value of VND675.9 billion ($32.18 million).
The HNX-Index closed 0.14 per cent down at 80.35 points, while the HNXFF-Index, which was composed of stocks with a minimum free-float rate of 5 per cent, lost 0.22 per cent to end at 79.92 points.
Tracking the top 30 shares by capitalisation and liquidity, the HNX30-Index finished yesterday at 158.8 points, a drop of 0.29 per cent.
Meanwhile, foreign investors boosted selling shares yesterday, concluding as net sellers with a net value of more than VND154 billion ($7.3 million), doubling the previous session's figure.
The net selling volume of foreign investors also reached more than six billion shares, eight times higher than Monday's volume, especially shares of Hoang Anh Gia Lai (HAG), Masan Group (MSN), Vingroup (VIC) and PetroVietnam Drilling (PVD).
The market experienced sell-offs during trading sessions at the end of last week and opening this week, with fears that the market would plummet, along with the world market crash, due to the impact of Ukraine's political crisis.
However, world shares also rebounded yesterday after Russia's president ordered troops involved in military exercises to return to their bases.
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