​VN-Index slips in cautious session

By Hung Le   March 4, 2020 | 02:50 am PT
​VN-Index slips in cautious session
An investor looks at a stock market screen at a securities company in Hanoi. Photo by Reuters/Kham.
The VN-Index edged down 0.14 percent to 889.37 points Wednesday, with trading volume falling below the monthly average.

The Ho Chi Minh Stock Exchange, Vietnam’s main bourse on which the VN-Index is based, saw 166 stocks losing and 188 gaining.

Order-matched transactions dropped nearly 10 percent from the previous session to VND2.65 trillion ($114.84 million), slightly below last month’s average of VND2.77 trillion ($120.04 million) per session.

The VN30-Index for the bourse’s 30 biggest market caps did not gain or lose any points, with 9 tickers losing and 11 gaining. 

GAS shares of state-owned energy giant PetroVietnam Gas topped losses this session with 2.4 percent. In the utilities sector, PLX of petroleum distributor Petrolimex kept its opening price, and POW of Vietnam’s second biggest electricity producer PetroVietnam Power added 0.3 percent.

No stocks of Vietnam’s four major state-owned lenders on the VN30 gained this session. BID of BDIV shed 1.6 percent, MBB of Military Bank 0.7 percent, VCB of Vietcombank 0.6 percent, and CTG of Vietinbank remained at opening price.

Other major losing stocks include SBT of agricultural firm TTC-Sugar, down 0.9 percent, and FPT of IT services giant FPT with 0.7 percent.

The trio of shares related to Vingroup, Vietnam’s biggest conglomerate, all kept their opening prices. These are VIC of parent corporation Vingroup, VHM of its real estate arm Vinhomes, and VRE of retail arm Vincom Retail.

ROS of FLC was the biggest gainer this session, with 7 percent, the highest it could go in a session. The stock is currently one of the most volatile on the VN30, swinging from floor to ceiling for most sessions in the past month.

Two other shares in the construction sector gained slightly, with CTD of construction giant Coteccons adding 0.1 percent, and NVL of real estate developer Novaland 0.2 percent.

Most of the other gainers were of private banking and securities stocks, led by STB of Sacombank, up 2 percent, followed by SSI of Saigon Securities Inc., 1.9 percent, HDB of HDBank, 1.6 percent, and TCB of Techcombank, 0.2 percent.

Meanwhile, the HNX-Index for stocks on Hanoi Stock Exchange, Vietnam’s second main bourse for small and midcap stocks, surged 1.83 percent, and the UPCoM-Index for unlisted public companies edged up 0.13 percent.

Foreign investors were net sellers for the 17th consecutive session on all three bourses, with a net sell value of VND480 billion ($20.8 million million).

Selling pressure was mostly focused on MSN of food conglomerate Masan Group and VHM of Vinhomes, both of which did not see any change in price this session.

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