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Investor caution takes its toll on City stock market
Shares lost yesterday in HCM City, while maintaining an upward trend in Ha Noi as investors remain cautious over the market.
On the HCM City Stock Exchange, the VN-Index slightly decreased by 0.08 per cent to 505.25 points.
Investors remained cautious, however, as selling pressures remained strong during the morning session.
More than 62.33 million shares changed hands, with a total value of VND915.56 billion (US$43.59 million).
The VN30-Index, tracking the southern city's top shares by capitalisation and liquidity, gained a modest 0.06 per cent to reach 566.27 points, although losers outnumbered gainers by 13-9.
Also, blue chips yesterday were not active enough to support the benchmark index.
Vinamilk (VNM) lost VND1000 ($0.047) to finish at VND138,000 ($6.5) per share and Kinh Do (KDC) lost VND500 ($0.023) to VND51,000 ($2.4) per share.
Other losers included insurance company Bao Viet Group (BVH), Vietinbank (CTG), MB Bank (MBB), Ocean Group (OGC) and Vinh Son Song Hinh Thermoelectric Plant (VSH), as all lost VND100 ($0.0047) per share.
The VN30-Index received support from the gains of real estate giant Vingroup (VIC), PetroVietnam Drilling (PVD), PetroVietnam Fertilisers and Chemicals (DPM), Gemardebt (GMD), FPT Group (FPT), Ree Corporation (REE) and Vietcombank (VCB).
Overall, 94 stocks managed to increase, in comparison to 113 decliners.
According to FPT Securities, the dreary transaction yesterday was due to investors being impacted by information that the State Bank of Viet Nam would not extend the deadline to apply the Circular 02/2013/TT-NHNN about asset classification and extraction for risk prevention.
On the Ha Noi Exchange, the benchmark index maintained its upward trend, as liquidity eased.
The HNX-Index advanced 0.12 per cent to 66.95 points, and the HNXFF-Index, composed of stocks with a minimum free-float rate of 5 per cent, lost 0.03 per cent to 66.99 points.
The total value reached VND219.35 billion ($10.44 million) on the exchange of 32.8 million shares. The HNX30-Index of the capital city's 30 largest shares gained 0.32 per cent to 127.16 points.
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