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Banking & Finance

Market down just a touch

Released at: 17:50, 21/12/2015 Stock Market Watch

Market down just a touch

Morning rises not enough as both Indexes in the red by the end of the day's trade on December 21.

by Hung Khanh

The stock market increased twice during the course of the day on December 21, at the beginning and the middle of the morning session, but the remainder of the day trade was in negative territory. The VN-Index fell slightly, by 1.28 points or 0.23 per cent, as did the VN30-Index, by 1.12 points or 0.19 per cent.

In the VN30 basket 13 shares increased and the same number decreased. Solid performers included KBC, which rose by 4.48 per cent, VIC 3.75 per cent, DPM 3.27 per cent, VCB 3.16 per cent, BVH 3 per cent, and ITA 1.75 per cent -  all of which fell last Friday as the VNM ETF funds wrapped up their period of selling.

Not all shares sold by VNM rebounded today, however, with HHS, for example, hitting its floor price. If it does so again it will at the same price it was last August.

MSN and SBT saw strongest trade by foreign investors today, with MSN recording net selling of VND260 billion ($11.53 million), or more than 90 per cent of its liquidity, losing 4.23 per cent after increasing 4.41 per cent last Friday, while SBT recorded net buying of VND98 billion ($4.34 million), which pushed it to its ceiling for the second consecutive day, increasing 6.93 per cent on the back of 3.3 million shares traded.

Despite the VNM ETF ending selling last week foreign investors saw strong overall net selling of VND170 billion ($7.54 million) during the day.

Blue chips dragging the market downwards included VNM and GAS, as well as MSN, with VNM losing 2.34 per cent and GAS 2.39 per cent.

It was the third consecutive day of losses for GAS and unrelated to transactions by VNM funds. It appears to be more influenced by the falling oil price, with its 2.39 per cent loss bringing its total loss since the beginning of the month to 14.5 per cent and nearing its price last August. Foreign investors selling VND11.2 billion ($496,832) of GAS shares was behind today’s loss.

Oil shares on the up today included PVD, by 1.15 per cent, and PVS, by 1.82 per cent, while PVC tumbled 5.52 per cent and PVB 4.91 per cent.

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