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Banking & Finance

VN-Index falls for third day in a row

Released at: 18:31, 22/03/2016 Stock Market Watch

VN-Index falls for third day in a row

Poor morning sees afternoon recovery make little difference.

by Hung Khanh

March 22 was a mixed bag on Vietnam’s stock markets, with indexes on HNX increasing slightly while those on HSX continued downwards.

The VN-Index fell 1.36 points (0.24 per cent) and the VN30-Index 0.42 points (0.29 per cent), marking three consecutive days of declines in the VN-Index. The HNX-Index, meanwhile, rose 0.06 points (0.08 per cent) and the HNX30-Index 0.42 points (0.29 per cent).

The VN-Index reached a low of 567.88 points during morning trade before recovering to close the session at 571.56 points. VIC, GAS and VCB reflected the Index’s movement; falling early on in the morning before recovering. The largest cap, VNM, finished 0.74 per cent down at the close of morning trade and offset the recoveries seen elsewhere.

In the afternoon VNM fell another tick size to close down 1.48 per cent over the course of the day’s trade.

GAS, meanwhile, fell four tick sizes in the afternoon against the morning close, for an increase of 1.1 per cent overall.

Among banking large caps, BID and CTG were down 1.7 per cent and 1.2 per cent, respectively, after a poor morning session. VCB increased two tick sizes against the morning to close 0.9 per cent higher for the day.

VIC increased one tick size against morning session, to close up 0.66 per cent overall, while BVH increased 0.94 per cent and HVG 0.83 per cent.

The VN30-Index saw seven shares increase in the afternoon against the morning session, on low liquidity of VND302 billion ($13.54 million); the lowest in the last 13 afternoon sessions.

Afternoon trade on HSX saw VND955.6 billion ($42.84 million) in shares changing hands, or 23 per cent less than the previous afternoon.

Foreign investors net bought on both markets, to the tune of VND34 billion ($1.52 million) on HSX and VND20 billion ($896,800) on HNX.

Photo: TVSI

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