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Banking & Finance

Only HNX30-Index gains ground

Released at: 18:42, 02/03/2017 Stock Market Watch

Only HNX30-Index gains ground

Most large caps close down on difficult March 2.

by Hung Khanh

The HNX30-Index was the only main index to close higher on March 2.

On HSX, the VN-Index fell 2.01 points (0.28 per cent) and the VN30-Index 2.23 points (0.34 per cent), while the VNMid-Index gained 0.89 points (0.1 per cent) and the VNSml-Index lost 0.85 points (0.11 per cent).

On HNX, the HNX-Index lost 0.01 points (0.01 per cent) as the HNX30-Index gained 0.07 points (0.05 per cent). The UPCoM-Index fell 0.08 points (0.14 per cent) and the VNALL-Index 2.06 points (0.21 per cent).

HSX saw a 118 point increase followed by a 136 point decrease while HNX saw a 133 point increase followed by a 126 point decrease.

Liquidity on HSX reached VND2.84 trillion ($122.7 million), 11 per cent lower than yesterday, and on HNX was VND414 billion ($18.1 million), also 11 per cent lower.

The VN-Index opened at 709.02 and reached its peak of the day of 713.5 points early on before fluctuating and closing the morning at 709.5 points. In the afternoon it inched up to 710.2 points before gradually falling to close the day’s trade at 707.51 points.

Most large caps in food and beverages fell: VNM by 0.8 per cent, SAB 0.4 per cent, BHN 0.3 per cent, and MSN 0.2 per cent. KDC closed at its opening price and SBT increased 0.2 per cent.

Banking also had a tough day, with BID falling 1.5 per cent, VCB 0.8 per cent, MBB 0.4 per cent, and CTG 0.3 per cent. STB closed at its opening price while EIB increased 0.9 per cent.

In real estate, FLC lost a significant 6.5 per cent and VIC fell 1.3 per cent. NVL closed at its opening price, while KDX gained 3.6 per cent, DXG 2.1 per cent, and KBC 0.4 per cent.

Among other large caps on HSX, VJC increased 6.9 per cent, HPG 2.7 per cent, ROS 0.9 per cent, and MWG 0.3 per cent. BVH fell 0.7 per cent and NVL closed at its opening price.

ROS was the highest traded share on HSX, with VND447 billion ($19.6 million) changing hands. HPG followed, with VND329 billion ($14.4 million), then FLC with VND323 billion ($14.1 million). The largest cap, VNM, saw trade of VND62 billion ($2.71 million).

On HNX, PHP rose 4.3 per cent, VCG 3.3 per cent and VCS 1.3 per cent, while SHB lost 1.9 per cent, PVS 1.1 per cent, and ACB 0.4 per cent.

Foreign investors net bought on HSX by VND124 billion ($5.43 million) and net sold on HNX by VND2 billion ($87,640).

The VN-Index continued to retreat and break out of the 20-day line due to high selling pressure, especially in the VN30 group, like GAS, VNM, VIC and VCB. Trading volumes fell by 20 per cent, which implied money instability. Some shares, like VJC and HPG, underpinned the market. Although there was the appearance of inflows to fundamentally good stocks, like property developers, constructors, steelmakers, and pharmaceutical producers, we support a scenario whereby the VN-Index trades within a narrow range of 705-715. It is also possible it may retest the support range of 700-705 points. We believe, however, that retreating and accumulating sessions indicate an approaching uptrend. Investors should therefore make appropriate disbursements.

KIS Vietnam Securities Corporation

 

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