Shares end the week on negative note
Shares end the week on negative note
Vietnamese shares extended losses on Friday as large-cap stocks in a series of industries suffered selling pressure, especially banking, securities and steel.
On the Ho Chi Minh Stock Exchange, the VN-Index lost 1.35 per cent to close at 1,482.00 points. It had lost 1.35 per cent to close Thursday at 1,502.35 points.
The market breadth was negative with 370 stocks falling and 92 rising.
Liquidity was at a low level with more than VND23.6 trillion (US$1 trillion) poured into the southern market, equivalent to a trading volume of over 764 million shares.
The index's decrease was due to declines in pillar stocks. Accordingly, the VN30-Index lost 1.14 per cent, to 1,524.31 points.
Five of the 30 biggest stocks in capitalisation on HoSE posted gains, while 24 slid, the other stayed flat.
In the VN-30 basket, the worst performers were The Viet Nam Rubber Group (GVR), PetroVietnam Gas JSC (GAS), Mobile World Group (MWG), FPT Corporation (FPT), Masan Group (MSN), Vinamilk (VNM) and PVPower (POW).
Banking stocks fell and put great pressure on the overall market, with losers including Sai Gon Thuong Tin Commercial Joint Stock Bank (STB), Sai Gon-Ha Noi Bank (SHB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG), VPBank (VPB), Techcombank (TCB), Tien Phong Bank (TPB) and Lien Viet Post Bank (LPB).
Towards the end of the session, the VN-Index's decline significantly broadened as securities stocks decreased strongly, such as VIX Securities Joint Stock Company (VIX), Viet Capital Incorporation (VCI), SSI Securities Incorporation (SSI), Agribank Securities Corporation (AGR) and APG Securities Joint Stock Company (APG) and Petrovietnam Securities Incorporated (PSI).
The shares of the 'Vin' family performed positively as IT-real-estate-manufacturing-retail conglomerate Vingroup (VIC) and real estate giant Vinhomes (VHM) both increased.
The steel stock group also suffered selling pressure, with losers including giant steelmaker Hoa Phat Group (HPG), Hoa Sen Group (HSG), Nam Kim Group (NKG), Pomina Steel Corporation (POM) and Tien Len Steel Group Joint Stock Company (TLH).
Vingroup (VIC) gained 2.8 per cent and Vinhomes (VHM) was up 0.1 per cent.
On the Ha Noi Stock Exchange, the HNX-Index lost 2.17 per cent to end at 432.02 points. The northern bourse’s index had lost 1.17 per cent to end Thursday at 441.61 points.
Liquidity on the northern exchange declined with over 84 million shares worth VND2.7 trillion being traded.
