An investor watches share prices on an electronic board at Bao Viet Securities Co. (Photo: VNA)Hanoi (VNS/VNA) - Shares tumbled for a third straight day on the Ho Chi MinhStock Exchange on December 7 but rose on Hanoi’s bourse as money inflowchannelled into small- and mid-cap stocks.
On the HCMStock Exchange, the VN-Index slid 0.95 percent to close December 7 at 938.65points, extending a three-day loss to 3.25 percent.
Sellingpressure was maintained in leading stocks including Vinamilk (VNM), down 4.6 percent;brewer Sabeco (SAB), down 2.6 percent; VinGroup (VIC), down 1.4 percent; VPBank(VPB), down 2.2 percent; Tien Phong Plastics (NTP), down 2.8 percent; andVietcombank (VCB), down 0.8 percent.
The VN-Indexwould have dropped further without the cushion of blue chips such as privateequity firm Masan Group (MSN), PV Gas (GAS), insurer Bao Viet Holdings (BVH),FLC Faros Construction (ROS) and lender BIDV (BID) with growth of between0.6-1.8 percent each.
“The goodnews was that instead of fluctuating along the market, small- and mid-capstocks were actively trading and attracting investors’ cash flow,” analysts atBIDV Securities Co wrote in a report on December 7, indicating the balancednumber of losing and gaining stocks.
About 142stocks advanced on the HCM City’s market on December 7 while 132 declined.Another 73 closed flat.
Both theVN-Midcap and VN-Smallcap increased 0.6 percent while the VN30 which tracks thetop 30 largest shares by market value and liquidity fell 1.1 percent.
Substantialsmall- and mid-cap stock gainers on Thursday included Vinacafe Bien Hoa (VCF),Power Construction No 1 (PC1), Vinh Hoan Corp (VHC) and Hoa Binh ConstructionGroup (HBC) and CMC Corp (CMG), with growth of 4-7 percent each.
However,liquidity tended to weaken, showing investors’ hesitation towards the negativetrend of the market.
December 7was the second day liquidity declined with nearly 197 million shares worth 4.75trillion VND (208.3 million USD) traded on the southern market, down 19 percentin trading volume and 23 percent in trading value compared to the previoussession.
“We believethat the small and medium caps which had recovered will help stabilise investorsentiment. In the upcoming sessions, the VN30 might recover after decreasingrecently,” BIDV Securities Co’s analysts said.
On the HanoiStock Exchange, the HNX-Index rallied for a second day, up 1.02 percent to end December7’s trade at 114.53 points with nearly 54 million shares worth 801 billion VNDtraded.-VNA
VNA
