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Banking & Finance

VN-Index slips under 570 points

Released at: 12:37, 07/12/2015 Stock Market Watch

VN-Index slips under 570 points

Trading slow as VN30 Index also heads downwards.

by Hung Khanh

The market traded in negative territory in the morning session of December 7, with the VN-Index closing at 567.43 points, down 4.19 points, or 0.73 per cent. Liquidity was slow in both order matching (some 33 million shares) and around 1.7 million shares via put through.

The VN-30 Index, meanwhile, fell 4.62 points, or 0.79 per cent, closing at 578.34, with only four shares increasing, 18 decreasing, and eight closing unchanged, in which the most pressure was on oil, bank, brokerage, and insurance shares.

VNM fell 0.81 per cent, VIC 0.24 per cent, and MSN 0.69 per cent.

Most banking shares headed downwards on the back of low trade, with only ACB increasing, by 0.52 per cent. Falling large caps included VCB, by 2.6 per cent, BID 0.48 per cent, and STB 2.63 per cent.

Oil shares were hit by global falls, with GAS down 1.99 per cent, PVD 2.27 per cent, PVS 3.11 per cent, PVC 1.68 per cent, PVB 1.51 per cent, and PGS 0.55 per cent.

Among brokerage shares, SSI ended 1.71 per cent lower, VND 1.56 per cent, and BVS 0.82 per cent.

Last week saw very low liquidity in the HSX, with a daily trading volume of around 80-90 million shares, significantly lower than the previous week, which saw trade of around 120-140 million shares each day. Analysts put this down to a cautious mentality being adopted by investors before the trading period of ETF funds and an expected decision from the US Federal Reserve on interest rates in the middle of the month.

Foreign investors net sold VND494 billion ($21.98 million) in both markets but net bought VNM, to the tune of VND72 billion ($3.2 million).

On December 7 the FTSE index included NT2, SBT, and BHS to its portfolio.

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