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Positivity at last for property shares
Shares extended their losses yesterday, and trading value continued to fall, although real estate shares registered some solid gains.
Real estate shares enjoyed increasing value thanks to positive forecasts on the sector's growth. Dragon Capital in its report for May said it was the right time to purchase real estate shares.
Stocks in real estate halted their losing streak and registered growth of 11.5 per cent in May. In addition, shares in the related sector of construction also increased by 13 per cent.
Among the shares to enjoy a rally were Tan Tao (ITA), Hoang Anh Gia Lai (HAG), Hoang Quan (HQC), Licogi 16 (LCG) and Van Phat Hung (VPH).
On the HCM City Stock Exchange, the VN-Index ended the session down 0.7 per cent to 518.24 points, although the number of gainers were higher than losers by 26 per cent.
Trading value totalled about VND1.1 trillion (US$52.3 million), declining 29 per cent over Tuesday, as nearly 70.6 million shares changed hands.
Of the 30 leading shares by capitalisation and liquidity tracked by the VN30, only six rallied. Meanwhile, more than 90 shares closed in the red, including high-performing stocks such as Vinamilk (VNM), Vietcombank (VCB), Masan Group (MSN) and insurer Bao Viet Holdings (BVH).
The VN30 shed almost 1 per cent to 575.39 points.
On the Ha Noi Stock Exchange, the HNX-Index slipped 0.26 per cent, reaching 65.32 points.
As about 41.2 million shares were exchanged, the total trading value on the bourse fetched VND360.8 billion ($17.1 million).
The HNX30, representing Ha Noi's largest stocks in terms of capitalisation and liquidity, also lost 0.13 per cent to reach 125.63 points.
Coffee maker Thai Hoa (THV) finished yesterday's session at the floor price of just VND400 (19 US cents) with a trading volume of more than 2.4 million shares. A total of over 57.7 million THV shares will be delisted from July 4, the Ha Noi Stock Exchange has recently announced.
Thai Hoa Group posted losses during eight consecutive quarters.
The accumulated losses as of December 31 last year reached VND622.5 billion ($29.6 million), exceeding the company's charter capital.
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