Mid-caps drag VN-Index back into the red

By Hung Le   September 22, 2020 | 02:31 am PT
Mid-caps drag VN-Index back into the red
An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
The VN-Index slumped 0.19 percent to 906.19 points Tuesday, with losses outside the VN30 pulling the market down, after two strong gaining sessions.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was predominantly red with 246 tickers losing and 150 gaining. Total trading volume remained far better than last month’s VND5 trillion ($214.91 million) average, reaching VND6.75 trillion this session.

Although the VN30-Index for HoSE’s 30 largest caps rose 0.14 percent, gains were not enough to offset losses on the general market. This basket saw 13 tickers in the green and 15 in the red.

STB of private lender Sacombank topped gains on the VN30 this session, having surged 6.8 percent, its ceiling price. It was also the most traded stock on the HoSE this session.

Although analysts have yet to come up with an explanation for STB’s sudden rise, the ticker is on its third consecutive gaining session, and has steadily rising in the last 20 sessions, reaching VND12,550 a share and up 11 percent compared to August 24.

It was followed by KDH of real estate developer Khang Dien House, up 1.6 percent, and MWG of electronics retailer Mobile World, up 1.2 percent.

Other banking stocks were some of the better performers this session. In the public sector, VCB and CTG of giants Vietcombank and VietinBank added 1.2 percent and 0.2 percent respectively, BID of giant BIDV shed 0.2 percent, while MBB of mid-sized Military bank rose 0.8 percent.

In the private sector, HDB of HDBank climbed 0.7 percent, TCB of Techcombank 0.2 percent, VPB of VPBank 0.2 percent, while EIB of Eximbank kept its opening price.

In the opposite direction, ROS of construction firm FLC Faros topped losses with 1.9 percent. It was followed by GAS of energy giant PetroVietnam Gas and VIC of private conglomerate Vingroup, two of the 10 biggest caps on the VN30, down 1.5 percent and 1.2 percent respectively.

Tickers of VIC’s subsidiaries, VRE of retail arm Vincom Retail and VHM of real estate developer Vinhomes dropped 0.9 percent and 0.4 percent respectively, while in oil and gas, POW of electricity generator PetroVietnam Power and PLX of petroleum distributor Petrolimex slumped 1 percent and 0.6 percent.

Other major losing tickers included SBT of agricultural firm TTC-Sugar, down 1 percent, NVL of real estate developer Novaland, down 0.6 percent, and HPG of steelmaker Hoa Phat Group, also down 0.6 percent.

Meanwhile, the HNX-Index for the Hanoi Stock Exchange, home to mid- and small-capped stocks, added 1.23 percent; and the UPCoM-Index for the Unlisted Public Companies Market shed 0.13 percent.

Foreign investors remained net buyers to the tune of VND91 billion on all three bourses. The most net bought stocks were SSI of brokerage Saigon Securities Inc., up 0.3 percent, and VNM of dairy firm Vinamilk, down 0.4 percent.

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