Investors check stock prices at MayBank Kim Eng Securities Company in HCM City (Photo: VNA)Hanoi (VNS/VNA) -Shares struggled to rise on the Ho Chi Minh Stock Exchange on October 19 asinvestor sentiment turned negative on the current market trading condition.
The benchmark VN Indexinched up 0.15 percent to close at 828.93 points, narrowing its growth from theintraday highest rate of 0.46 percent. HCM City’s stock index was down 0.07 percenton October 18.
More than 169.3 millionshares were traded on the southern market, worth 4.1 trillion VND (182.4million USD).
The figures represented adecline of 14.8 percent in volume and 13.8 percent in value compared to October18’s numbers.
The market breadth wasnegative with 142 declining stocks, 124 gaining ones and 58 shares endingunchanged.
The current marketcondition suggested investors exercise caution over the performance oflarge-cap stocks, which would have a big impact on the movements of the marketindex, according to Bao Viet Securities Co (BVSC).
The VN30 Index, whichtracks the performance of the 30 top companies by market capitalisation andtrading liquidity, narrowed its gain from 0.5 percent to only 0.07 percent atthe end of October 19’s session.
Thirteen companies in theVN30 basket saw share prices drop against 14 gaining stocks.
[Nearly 1 billion additional shares listed on UPCoM]
The best-performing stocksincluded FLC Faros Construction (ROS), DHG Pharmaceutical Co (DHG), Binh MinhPlastic Co (BMP), food producer Kido (KDC) and digital retailer Mobile World(MWG).
Those were the companiesthat either have reported higher-than-expected earnings for the third quarterand nine months or are expected to release good reports for the periods.
Kido has announced itspre-tax profit in the nine-month period exceeded the year-targeted number by 9 percentto reach 535 billion VND.
KDC rose 1.2 percent afterhaving fallen total 4 percent in the previous five sessions.
On the opposite side,financial-banking stocks suffered from profit-taking as investors continued tolook for profits after those stocks had made recent gains.
The worst decliners in thesectors were MBBank (MBB), Saigon Securities Inc (SSI) and HCM City Securities(HCM).
BVSC analyst Tran Xuan Bachsaid in a note that investors were quite indecisive and unwilling to make newpurchases at the moment.
If current conditionscontinue, it may signal the market could face a short-term downtrend, Bachsaid, adding that the VN Index could fall back to the range of 818 and 822points.
On the Hanoi StockExchange, the HNX Index fell 0.31 percent to end at 109.08 points. It lost 0.38percent on October 18.
Nearly 49 million shareswere exchanged on the northern bourse, worth 585.6 billion VND.-VNA
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