Shares end week on negative note
Shares end week on negative note
The stock market ended the week on a negative note as increased selling pressure made indices reverse to fall in the final minutes of trading.
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index lost 0.15 per cent to end at 1,206.33 points.
The market's breadth stood negative with 189 advancers and 239 decliners.
The market's liquidity was low with 590.3 million shares traded on the southern bourse, equivalent to roughly VND15 trillion (US$642.6 million).
“Following the gain of the previous day, the market opened with positive movements. The uptrend lasted but reversed strongly at the end of the session when selling pressure broke the buying force in the market,” said BIDV Securities Co.
“Market breadth was negative with losers outnumbering gainers. Liquidity exceeded the average trading threshold of VND10 trillion, showing that the cash flow is returning to the market when the news of Q2 business results creates a positive psychological effect on investors.
“Foreign investors were net sellers on the HSX and net buyers on the HNX. VN-Index is expected to maintain its trading trend in the range of 1,200-1,250 points in the next trading sessions,” the company said.
The VN30-Index echoed the market pattern but with much larger losses. It dropped 0.33 per cent to stay at 1,232.00 points. In the basket, 15 stocks climbed and 15 slid.
In the VN-30 basket, Vingroup (VIC), Masan Group (MSN) and Tien Phong Bank (TPB) were the three companies that had the worst impact on the VN-Index, dropping 4.5 per cent, 3.5 per and 2.2 per cent, respectively. The counterweights were Vinhomes (VHM), Sabeco (SAB) and Bank for Investment and Development of Vietnam (BID), gaining 1.9 per cent, 4 per cent and 2 per cent.
The HNX-Index on the Ha Noi Stock Exchange (HNX) lost 0.42 per cent to reach 288.61 points.
More than 62 million shares were traded on the northern bourse, worth VND1.22 trillion.
