Illustrative image (Source: danviet.vn)Hanoi (VNA) - Shares declined slightly on both local exchanges on January12 as bank and steel stocks lost rising momentum and foreign investors recordedthe highest net sell value since the beginning of 2017.
Thebenchmark VN Index on the HCM Stock Exchange closed at 686.96 points, nearlyflat compared to the previous day’s closing level of 687.16 points.
TheHNX Index on the Hanoi Stock Exchange inched down 0.2 percent to end at 83.29points. The northern market index retreated after rising a total of 2.7 percentin four consecutive sessions.
Markettrading liquidity was modest. Nearly 136.9 million shares were exchanged byinvestors, worth 2.32 trillion VND (103.2 million USD).
Bankstocks were on the defensive side yesterday as they were hit by profit-taking.According to BIDV Securities Corp (BSC), bank stocks were the key factor thatprevented the VN Index from reaching the testing level of 690 points.
Ofthe nine listed banks, Vietcombank (VCB) dropped 1.4 percent, Vietinbank (CTG)and Bank for Investment and Development of Vietnam (BID) shed 0.6 percent each,while Asia Commercial Bank (ACB), Saigon-Hanoi Bank (SHB) and Eximbank (EIB)ended flat.
Steelproducers, including Hoa Phat Group (HPG), Hoa Sen Group (HSG) and Tien Len SteelJoint Stock Company (TLH) also decreased following gains made in the previoustwo days.
HPGslid 0.8 percent, HSG and TLH slipped 1.2 percent each. Those stocks gained atotal 2 percent, 2.2 percent and 2.8 percent during the January 10 and 11 tradingsessions.
Inaddition, foreign investors recorded the highest net sell value since thebeginning of this year and that was also a factor driving down domestic investorsentiment.
Foreignnet sell value yesterday was around 189.7 billion VND with a focus onoffloading stakes in HPG, HSG and VCB. On January 11, foreign investors boughta net value of 44 billion VND.
Onthe opposite side, brewer Sabeco (SAB), Faros Construction Corporation (ROS)and energy stocks were the ones that helped balance the market trading.
SABrose 0.3 percent to total a 3 percent increase after two sessions, while ROSadded 0.7 percent to extend its rally to 23 consecutive days since December 12with a total gain of 20 percent.
Theenergy sector achieved a slight increase, driven by PetroVietnam Gas Corp(GAS), PetroVietnam Coating Corp (PVB) and PetroVietnam Drilling and WellServices Corp (PVD) after oil prices advanced for a second day on globalmarkets.-VNA
Thebenchmark VN Index on the HCM Stock Exchange closed at 686.96 points, nearlyflat compared to the previous day’s closing level of 687.16 points.
TheHNX Index on the Hanoi Stock Exchange inched down 0.2 percent to end at 83.29points. The northern market index retreated after rising a total of 2.7 percentin four consecutive sessions.
Markettrading liquidity was modest. Nearly 136.9 million shares were exchanged byinvestors, worth 2.32 trillion VND (103.2 million USD).
Bankstocks were on the defensive side yesterday as they were hit by profit-taking.According to BIDV Securities Corp (BSC), bank stocks were the key factor thatprevented the VN Index from reaching the testing level of 690 points.
Ofthe nine listed banks, Vietcombank (VCB) dropped 1.4 percent, Vietinbank (CTG)and Bank for Investment and Development of Vietnam (BID) shed 0.6 percent each,while Asia Commercial Bank (ACB), Saigon-Hanoi Bank (SHB) and Eximbank (EIB)ended flat.
Steelproducers, including Hoa Phat Group (HPG), Hoa Sen Group (HSG) and Tien Len SteelJoint Stock Company (TLH) also decreased following gains made in the previoustwo days.
HPGslid 0.8 percent, HSG and TLH slipped 1.2 percent each. Those stocks gained atotal 2 percent, 2.2 percent and 2.8 percent during the January 10 and 11 tradingsessions.
Inaddition, foreign investors recorded the highest net sell value since thebeginning of this year and that was also a factor driving down domestic investorsentiment.
Foreignnet sell value yesterday was around 189.7 billion VND with a focus onoffloading stakes in HPG, HSG and VCB. On January 11, foreign investors boughta net value of 44 billion VND.
Onthe opposite side, brewer Sabeco (SAB), Faros Construction Corporation (ROS)and energy stocks were the ones that helped balance the market trading.
SABrose 0.3 percent to total a 3 percent increase after two sessions, while ROSadded 0.7 percent to extend its rally to 23 consecutive days since December 12with a total gain of 20 percent.
Theenergy sector achieved a slight increase, driven by PetroVietnam Gas Corp(GAS), PetroVietnam Coating Corp (PVB) and PetroVietnam Drilling and WellServices Corp (PVD) after oil prices advanced for a second day on globalmarkets.-VNA
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