17:37 (GMT +7) - Wednesday 07/12/2016

Banking & Finance

VN-Index tumbles 3%

Released at: 17:22, 18/01/2016 Stock Market Watch

VN-Index tumbles 3%

Losses widespread around market at Indexes fall heavily on January 18.

by Hung Khanh

The HSX saw significantly falls in the morning session on January 18 as the VN-Index tumbled 17 points to close at 525.68 points. In the afternoon it bottomed out at 519.20 points before closing at 526.37 points, for a loss of 16.67 points (3.07 per cent) over the course of the day.

The market saw 39 shares increasing and 208 decreasing. Liquidity was relatively high, with a trading volume of some 155 million shares via order matching valued at VND2.2 trillion ($98.23 million).

The VN30-Index had a similar day, falling to a low of 532.51 points in the middle of the afternoon session but recovering to close at 541.18 points, for an overall loss of 14.58 points (2.62 per cent). No shares increased in the morning session, with only three shares returning to their opening price during the afternoon: VIC, KDC, and MSN.

Falls were widespread throughout the market.

Banking shares took a major hit, with all large caps losing more than 2 per cent. Three blue chips saw the highest losses, including BID, which hit its floor to be down 6.74 per cent, while VCB was down 4.93 per cent, CTG 4.55 per cent, STB 3.60 per cent, MBB 2.92 per cent, and EIB 2.68 per cent. On HNX, SHB lost 3.39 per cent and ACB 2.62 per cent.

Finance shares also headed downwards, with BSI, FIT, and OGC hitting their floors in falling 6.82 per cent, 6.02 per cent, and 5 per cent, respectively, while HCM lost 5.15 per cent and SSI 3.54 per cent. On HNX, VND fell 7.55 per cent, SHS 4.41 per cent, and BVS 2.68 per cent.

Among oil and gas shares, GAS and ASP hit their floors with falls of 7 per cent and 5.56 per cent, respectively, while CNG lost 1.64 per cent and PGD 0.28 per cent. On HNX, PVG lost 6.67 per cent and PGS 6.25 per cent. PCG went significantly against the trend, hitting its ceiling after increasing 10 per cent, but its low market cap meant it had little impact on the market.

Speculative shares also tumbled over the course of the day, such as HHS, which fell 6.4 per cent and HAG 6.1 per cent, while FLC and ITA hit their floors in falling 6 per cent.

Foreign investors net sold by VND36 billion ($1.6 million) on HSX but net bought by VND18 billion ($803,700) on HNX.

The HNX-Index lost 2.13 points (2.82 per cent), with 74 shares increasing and 230 decreasing.

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