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Banking & Finance

Market claws back losses

Released at: 18:16, 06/01/2016 Stock Market Watch

Market claws back losses

Strong morning and afternoon sessions on January 6 reclaim ground lost on previous day.

by Hung Khanh

January 6 saw a strong recovery in the HSX during the afternoon session, increasing almost 3 points to 574.57 points by the close of trade.

The increase built on a positive morning session, when the index rose more than 1 point against the opening. The HSX rose 4.63 points (0.81 per cent) over the course of the day, with 126 shares increasing and 82 decreasing.

The VN30-Index continued to be highly influential, increasing almost 5 points in the afternoon session to close 6.35 points (1.09 per cent) higher against the morning opening, with 22 shares increasing and two decreasing. The HNX-Index closed the day with an increase of 0.32 per cent while the HNX30-Index rose 0.44 per cent.

The VN-Index recovered all of the losses of the previous day, indicating calm among investors amid external factors in international markets. Liquidity was low, however, with VND1.3 trillion ($57.86 million) traded via order matching, a 10.6 per cent decline against January 5.

Afternoon trade saw positive signs in both markets, with 240 shares increasing, while 143 increased during the morning session.

The VN30-Index saw only KDC fall against the morning close but it finished the day at its opening price. Falling shares not really influencing the index due to liquidity included HCM, which fell 1.69 per cent, PVD 1.2 per cent, and CSM 0.41 per cent.

Twenty-three shares increased against the morning session, with BVH rising by 2.88 per cent, MSN 1.33 per cent, VCB 1.18 per cent, CTG 1.1 per cent, and VNM 0.8 per cent.

Two shares had the most influence on the market - HAG and VIC. HAG is showing signs of dragging itself upwards after four consecutive days of losses. Many ceiling offers were made and some 6.6 million shares were traded, valued at VND65.56 billion ($2.91 million), with the share closing at VND10,000 ($0.45). HAG, meanwhile, closed the day 4.17 per cent higher.

VIC lost 1.05 per cent in the morning but recovered in the afternoon to close at the day’s opening price. Trade and liquidity were high, with some 2 million shares changing hands worth VND93.2 billion ($4.14 million).

Foreign investors continued to be net sellers on HSX, to the tune of VND44.5 billion ($1.98 million), primarily focusing on VIC, where net selling was VND66.5 billion ($2.95 million), and HHS, with net selling at VND10.2 billion ($454,002).

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