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Banking & Finance

Banking shares drag both markets down

Released at: 17:59, 29/02/2016 Stock Market Watch

Banking shares drag both markets down

Falls in all indexes on January 29 as poor day for banking shares makes its presence felt.

by Hung Khanh

All indexes fell on the stock market on February 29. On HSX the VN-Index was down 6.74 points (1.19 per cent), with the VN30-Index falling 7.05 points (1.22 per cent).

On HNX the HNX-Index closed 0.33 points (0.41 per cent) lower and the HNX30-Index 1.01 points (0.72 per cent).

The HSX saw 120 shares increasing and 101 decreasing, while the HNX saw 158 shares increasing and 117 decreasing.

Large caps in the HNX30 basket bringing the HSX down were MSN, VIC, and VNM down 2.7 per cent, 2 per cent, and 1.5 per cent, respectively.

The banking sector wreaked the most damage to the market as all large caps were down, with BID falling 3.8 per cent, CTG 2.7 per cent, MBB 2.7 per cent, VCB 2.4 per cent, STB 1.8 per cent, and EIB 1 per cent.

Mid caps in the VN30 basket falling substantially included HAG 5.81 per cent, OGC 5.56 per cent, and VIC 2 per cent.

GAS and FPT were only two large caps to increase, by 0.5 per cent and 0.2 per cent, respectively.

Banking shares also had an impact on HNX, with SHB down 2.9 per cent and ACB 1 per cent.

Foreign investors net sold by VND21 billion ($941,850) on HSX while net buying on HNX, by VND4 billion ($179,400). 

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