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| Foreign selling drags down shares. —Photo tinnhanhchungkhoan.vn |
HA NOI (Biz Hub) — A slight recovery during the last minutes of trading at yesterday's afternoon session helped narrow the morning losses, with the benchmark indices ending slightly lower on both national stocks exchanges.
On HCM City Stock Exchange, the VN-Index ended at 600.57 points, losing 0.76 points or 0.13 per cent, on a trade of nearly 107 million shares.
The trading value reached VND2.2 trillion (US$104 million), slightly lower than previous trading session.
With a majority of blue chips posting losses yesterday, the VN30-Index, tracking the southern bourse's largest stocks by capitalisation and liquidity, dropped 0.63 per cent to close at 665.85 points.
This was due to the net selling by foreign investors who withdrew hundreds of billion dong from the market yesterday, the fourth consecutive day of such selling. Their net selling volume and value reached more than 2.4 million shares and VND168.18 billion ($8 million), respectively, 160 and 14 per cent, respectively, higher than Thursday and also the highest during the week. The foreign investors boosted selling of large-cap stocks.
PetroVietnam Fertilisers and Chemicals Corporation (DPM) was the stock that the foreign investors sold the most yesterday after the company targeted lower turnover and after-tax profit this year as compared with last year's results.
The DPM lost 3.6 per cent yesterday to end at VND44,400 ($2.1) per share.
Real estate developers Hoang Anh Gia Lai (HAG) and Vingroup (VIC) also witnessed net selling from the foreign investors. The VIC slid VND1,500 ($0.07) per share yesterday while the HAG lost VND300 ($0.014).
Other losers among blue chips included Hoa Sen Group (HSG), Hoa Phat Group (HPG), Vinamilk (VNM) and Bao Viet Holdings (BVH).
Although in the morning trading, no blue chips gained, five codes managed to advance in the afternoon.
These were HCM City Infrastructure Investment Company (CII), Kinh Do Corporation (KDC), Masan Group (MSN), which added VND100 ($0.098) per share. The FPT Group (Fpt) also gained in the afternoon session.
On Ha Noi Exchange, the HNX-Index ended 0.18 per cent lower, at 87.49 points, while the HNXFF-Index, composed of stocks with minimum free float rate of 5 per cent, ended at 88.99 points, adding 0.36 points.
Composed of the top stocks, the HNX30-Index finished 0.23 points, or 0.13 per cent, higher to close at 183.24 points.
More than 81.7 million shares, with a total value of VND948 billion ($45.1 million), exchanged hands.
According to the FPT Securities, the market liquidity had not improved and for as long as the foreign investors continued to be net sellers, the market might continue to face difficulties in coming sessions. — VNS