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HCMC stocks take a siesta after correction
Share prices on Vietnam’s main market in HCM City see-sawed on Friday before dropping slightly, as investors remained in sell-off mood to take profits from several days of rising shares.
The VN-Index retreated soon after the opening bell amid heavy selling. Analysts said some investors reacted cautiously to yesterday’s correction.
But the benchmark index rallied in the second trading session after a rebound by many large caps – such as Sacombank, PetroVietnam Fertilizer and Chemical, Hoa Phat Group and Saigon Securities Inc.
Among the blue-chips was Pha Lai Thermal Power, rising by the daily trading limit of five percent.
However, heavy selling appeared in the remaining time and the VN-Index edged down 0.42 points, 0.16 percent, to close at 266.62.
Among the index’s 179 stocks, 63 rose, 71 fell, 45 were unchanged.
Foreign investors remained net buyers today, buying VND44.5 billion ($25.5 million) worth of shares.
Sacombank (STB), partly owned by ANZ, was the most active stock by volume, with more than 2.5 million shares changing hands. The HCMC-based bank remained unchanged at VND16,700.
An Pha S.G Petrol Joint-Stock Company (ASP) also treaded water at VND7,600. The Ho Chi Minh Stock Exchange yesterday announced on its website that it has approved the gas supplier to list more than 8.3 million additional shares.
General Materials Biochemistry Fertilizer Joint-Stock Company (HSI) slumped by the five percent daily limit to VND11,400. The fertilizer maker will go ex-dividend on March 31, according to a report on the bourse’s website today.
The exchange also said that cement producer Ha Tien No.2 will float 88 million shares on March 26 and the trading band on the first day of listing is 20 percent on either side.
Vietnam Securities Investment Fund - VF1 (VFMVF1), the country’s first closed-end public fund, lost 1.35 percent to VND7,300. Chairman and general director Tran Thanh Tan registered to buy 50,000 fund certificates to raise his stake from 0.002 percent to 0.0025 percent, the bourse announced on its website.
The Hanoi Securities Trading Center had a similar pattern to the southern bourse, with the HaSTC-Index creeping down 0.73 points, 0.76 percent, to close at 95.57.
Thieu Gia
sai gon giai phong
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