Masan High-Tech Materials' mineral processing plant at Nui Phao Mine, Thai Nguyen Province. — Photo masangroup.com
Viet Nam's stock market fell on Monday as banking, securities, oil and gas stocks faced selling pressure.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) reversed course after a morning increase. The index slightly decreased by 0.06 per cent to end Monday at 1,166.05 points. The benchmark fell 2.3 per cent last week.
Overall the market recorded 236 stocks climbing, of which 41 hit the intra-day limit growth of 7 per cent, while 219 fell. Another 40 closed flat. On the southern bourse, more than 707.2 million stocks were traded during the session, worth nearly VND15.8 trillion.
The large-cap stock basket also ended lower with sixteen stocks falling, while only eleven rose. The VN30-Index finished the day at 1,154.7 points, down 0.16 per cent.
The market gained in production, construction and real estate stocks while witnessing the selling pressure from banking, securities and oil and gas sectors.
FLC Faros Construction Joint Stock Company (ROS) still posted good performance with an increase of 6.78 per cent to VND4,570. Other stocks had a positive effect on the VN-Index such as Masan Group Corporation (MSN), Mobile World Investment Corporation (MWG), Hoa Phat Group Joint Stock Company (HPG), Vincom Retail Joint Stock Company (VRE) and Kinh Bac City Development Share Holding Corporation (KBC).
Meanwhile, the top five stocks badly influenced the market today including PetroVietnam Gas JSC (GAS) down 2.19 per cent, Vietinbank (CTG) down 2.13 per cent, JSC Bank For Investment And Development Of Vietnam (BID) down 1.44 per cent, Vietcombank (VCB) down 0.49 per cent and Techcombank (TCB) down 1.38 per cent.
On the Ha Noi Stock Exchange, the HXN-Index declined by 3.45 per cent to end Monday at 231.84 points. The index rose sharply by 14.65 per cent last week.
The HNX30-Index also fell 1.57 per cent to 361.8 points.
During the session, more than 151.5 million shares were traded on the bourse, worth VND2.14 trillion.
Meanwhile, foreign investors were net sellers on both exchanges, with total net sold value of VND260.58 billion.
According to Bao Viet Securities Co, the market is expected to experience corrections in some sessions and maybe recover later this week. The VN-Index has the possibility to test the old resistance zone around 1,200 points in the short-term, the securities firm added.
Last week, HoSE released the latest update to the VN30-Index, VNDiamond Index and VNFinLead Index for January 2021.
It eliminated three stocks from the VN30-Index including ROS, Saigon Beer – Alcohol – Beverage Corporation (SAB) and EXIMBANK (EIB), while adding Bao Viet Holdings (BVH), Phat Dat Real Estate Development JSC (PDR) and Tien Phong Commercial Joint Stock Bank (TPB).
For the VNDiamond Index, the HoSE kept its portfolios unchanged, while adding four more stocks to VNFinLead including BVH, VNDirect Securities Corporation (VND), Viet Capital Securities JSC (VCI) and TPB. — VNS