VN-Index edges down, foreign investors ease selling pressure

By Hung Le   March 6, 2020 | 02:44 am PT
VN-Index edges down, foreign investors ease selling pressure
An investor looks at stock boards at a securities company in Ho Chi Minh City. Photo by VnExpress/Huu Khoa.
The VN-Index fell 0.21 percent to 891.44 points Friday, with foreigner investors’ net sell value down considerably over previous sessions.

199 stocks lost and 148 gained on the Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main bourse and home to large caps, on which the VN-Index is based.

The VN30-Index for the bourse’s 30 biggest market caps shed 1.19 percent, with 21 losing and 7 gaining.

Leading losing tickers this session covered several sectors. SAB of major brewer Sabeco shed 3.8 percent, SBT of agricultural firm TTC Sugar, 3.6 percent, and MWG of electronics retailer Mobile World, 2.3 percent.

They were followed by VJC of budget carrier VietJet Air, down 2 percent, and CTG of VietinBank, one of Vietnam’s three biggest state-owned lenders by assets, down 1.3 percent.

All three stocks of state-owned oil and gas firms lost this session. PLX of petroleum distributor Petrolimex shed 1.2 percent, followed by POW of electricity producer PetroVietnam Power, one percent, and GAS of energy giant PetroVietnam Gas, 0.8 percent.

The real estate and construction sector saw mixed results. ROS of FLC Faros and VHM of Vinhomes, both real estate developers, lost 1.3 percent and 0.3 percent respectively, while CTD of construction giant Coteccons surged 4.2 percent and NVL of real estate developer Novaland rose 0.2 percent.

Most private banks lost this session. VPB of VPBank shed 1.3 percent, TCB of Techcombank 1.1 percent and EIB of Eximbank 0.6 percent. STB of Sacombank rose 0.4 percent.

Stocks of Vietnam’s other two major state-owned lenders, VCB of Vietcombank and BID of BIDV, where among gainers, rising 1.7 percent and 0.4 percent respectively.

MSN of food conglomerate Masan Group topped gains this session with 6.9 percent, the highest it can go in a single session. 

The HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and midcap stocks, plunged 1.19 percent, and the UPCoM-Index for unlisted public companies edged down 0.05 percent.

Foreign investors remained net sellers on all three bourses for the 19th consecutive session Friday, but net selling value eased to VND30 billion ($1.3 million), compared to around VND250-450 billion ($10.86 - $19.55 milion) per session in the past two weeks.

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