VN stocks mixed for a second day

Saturday, Jul 30, 2016 09:05

Vietnamese shares were mixed again yesterday as investors sought profits in large-cap stocks following their recent gains.

An official at the Ha Noi Stock Exchange watches the market's trading activity. The HNX Index on the northern bourse yesterday closed up 0.2 per cent to 83.71 points. — VNA/VNS Photo Pham Hau

HA NOI (Biz Hub) — Vietnamese shares were mixed again yesterday as investors sought profits in large-cap stocks following their recent gains.

The benchmark VN Index on the HCM Stock Exchange pulled back 0.8 per cent to finish at 652.23 points from a two-day increase of 1.3 per cent.

The southern market declined as blue chips suffered from strong selling, Maritime Securities Inc (MSI) wrote in its Friday report.

Those large-cap stocks included Joint Stock Commercial Bank for Foreign Trade of Viet Nam (VCB), property firm Vingroup JSC (VIC), Viet Nam Dairy Products JSC (VNM) and Sai Gon Securities Inc (SSI).

VCB dropped 1.8 per cent after rising 5.8 per cent in the previous four trading days, and VIC fell 2.9 per cent after gaining 5 per cent during the same period.

VNM retreated 1.2 per cent from a three-day increase of 3.9 per cent and SSI was down 1.3 per cent from a three-session rise of 4 per cent.

Steel producers Hoa Phat Group (HPG) and Hoa Sen Group (HSG) also declined.

HPG edged down 0.2 per cent from a four-day jump of 11 per cent and HSG slipped 1.5 per cent from a three-day rally of 7.8 per cent.

Other leading stocks that were in negative territory included consumer goods producer Masan Group (MSN), Binh Minh Plastic JSC (BMP) and auto and auto-part distributor Hoang Huy Investment Services JSC (HHS).

The HNX Index on the Ha Noi Stock Exchange rebounded 0.2 per cent to close at 83.71 points from Thursday's fall.

Stocks that kept the northern exchange index positive were stone maker Vicostone JSC (VCS), Tien Phong Plastic JSC (NTP), Asia Commercial Bank (ACB) and Viet Nam Construction and Import-Export Corp (VCG).

VCS added 1.6 per cent, NTP increased by 1.2 per cent, ACB was up 1.1 per cent and VCG advanced 2 per cent.

The oil industry, one of the major sectors, continued to fall on lower oil prices, which hit a fresh three-month low during the day, MSI said.

PetroVietnam Drilling and Well Services Corp (PVD) slid 0.4 per cent, PetroVietnam Mud Drilling Corp (PVC) decreased by 0.8 per cent and PetroVietnam Technical Services Corp (PVS) slid 1.2 per cent.

Investors traded more than 159 million shares worth VND2.7 trillion (US$119.8 million), a decrease of 8.6 per cent from Thursday's trading value.

Yesterday, Viet Nam's central bank cut its daily reference mid-point rate by VND13 to VNĐ21,362 for a US dollar. — VNS