Stocks correct after six-day rallies
Stocks correct after six-day rallies
Having added more than 86 points over the past two weeks, domestic stocks today, February 26, slid as profit taking mounted, with the VN-Index of the Hochiminh Stock Exchange shedding 7.37 points, or 0.74%, at 987.06.
Trade on the southern market remained high as volume added 10.5% at 251.6 million shares while value slid a slight 1% at VND5.1 trillion. Put-through transactions contributed more than VND1 trillion to the overall value, with dairy giant VNM having 1.1 million shares traded at a total of nearly VND169 billion.
Despite large block deals, the matching volume of VNM shares was just 800,000. The firm was also the top loser, slumping 3.6% at VND146,100 per share.
Property company VIC and its subsidiary VHM came under selling pressure, closing down 0.7% at VND115,500 and moving sideways at VND92,000, respectively. Retailer VRE, another subsidiary of VIC, advanced 1.8% at VND34,500 with matching volume of 2.1 million shares.
Most stocks in the banking, securities and fuel sectors also fell. CTG was among the few lenders whose shares gained, inching up 0.2% at VND21,350 with over 6.5 million shares traded.
Meanwhile, small and speculative stocks attracted investors, with mining firm AMD and real estate enterprises FLC and HAG taking the lead by liquidity with 16.5 million. 15.9 million and 12.8 million shares transacted, respectively. While AMD lost 5.8% at VND2,440, FLC added 1.3% at VND5,410 and HAG gained 2.9% at VND5,660.
Notably, construction firm LCG and seafood exporter HVG went up to their ceiling prices of VND9,840 and VND6,070, with matching volume soaring to 4.9 million and 2.9 million shares, respectively. HVG hit its upper limit for three sessions in a row.
Foreign investors net bought 3.4 million shares on the HCMC exchange with a total value of VND53.1 billion, down 46.9% against the previous session. Notably, they net bought over two million shares worth over VND50.4 billion of electricity firm GEX.
On the Hanoi Stock Exchange, the HNX-Index rose 0.05% at 107.66 points, extending its rising streak for a third straight session. Trading volume and value rocketed 103% and 127% from the day earlier to 69 million shares and VND1.1 trillion.
Foreign investors were active on the selling side on the Hanoi market with a net selling value of VND566.6 billion. They net sold 27.7 million shares of building material firm VGC, mostly via put-through deals, with a combined value of VND592.5 billion.
VGC closed the session up 4.3% at VND21,600 and became the second most actively traded stock with six million shares traded. PVS, an oil and gas firm, was the volume leader with 6.6 million shares changing hands, falling 0.5% at VND20,600.
