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Banking & Finance

Blue chips drive market down

Released at: 17:32, 05/01/2016 Stock Market Watch

Blue chips drive market down

Indexes down as major players struggle.

by Hung Khanh

The VN-Index fell 1.78 per cent today after losing 0.8 per cent yesterday, with 67 shares increasing and 138 decreasing. The VN30-Index lost 1.07 per cent, with only two shares increasing and 23 decreasing. SSI was down 3.69 per cent, BVH 1.89 per cent, VCB 1.62 per cent, VNM 0.79 per cent, and MSN 0.66 per cent.

The HNX-Index fell 1.29 per cent, meanwhile, with 67 shares increasing and 131 decreasing.

Oil and gas shares continued to be hit by global factors, with PVD losing 4.49 per cent on the back of VND18 billion ($800,100) net selling by foreign investors. On HNX, PVS lost 2.40 per cent and PVB 1.43 per cent. GAS remained at its opening price yesterday, but selling pressure today saw it fall 0.28 per cent.

Banking shares also suffered significant losses, with none increasing and only EIB closing at its opening price. STB lost 2.38 per cent, VCB 1.62 per cent, and BID 1.09 per cent. On HNX, NVB lost 4.69 per cent, SHB 1.56 per cent, and ACB 1.52 per cent. VCB saw strong net selling by foreign investors, of VND23 billion ($1.02 million).

Brokerage shares also lost ground, with most falling, such as SSI, by 3.69 per cent, HCM 1.67 per cent, and FIT 1.09 per cent.

Among shares regularly seeing high trade volumes, HAG fell 4.95 per cent, HHS 3.23 per cent, VHG 3.03 per cent, FLC 2.53 per cent, and HQC 1.89 per cent.

Foreign investors were relatively strong net sellers, at over VND101 billion ($4.48 million). The strongest net selling was in VIC, with more than VND63 billion ($2.8 million) today, marking four consecutive days of strong selling by foreign investors. Domestic demand remained high, however, seeing VIC close today at its opening price.

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