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Banking & Finance

VNM shares under major pressure

Released at: 22:08, 23/11/2015 Stock Market Watch

VNM shares under major pressure

VN-Index falls 4.47 points as traders continue to exit Vinamilk.

by Hung Khanh

The stock market on November 23 went into negative territory, with high sales of VNM pushing its share price down 3.05 per cent. Other blue chips suffered similar fates, with the VN-Index falling 4.47 points, or 0.74 per cent against the opening.

VNM lost VND4,000 ($0.18), closing at VND127,000 ($5.65), for a loss of over 9 per cent over the last five trading days. There were 984,360 VNM shares sold, valued at VND126.1 billion ($5.6 million), with the share recording the highest liquidity in the afternoon session.

Foreign investors ended four days of selling more VNM shares than they purchased, today buying 359,700 and selling 92,980.

The VN30-Index lost 4.23 points, or 0.69 per cent, compared to the opening. Large caps recording falls included MSN, at 1.38 per cent, VCF 1.32 per cent, BVH 1.69 per cent, and FPT 2.94 per cent. The VN30-Index saw eight shares increase, 14 decrease, and eight finish at their opening price.

OGC saw the highest liquidity in the day’s trade, at some 25 million shares, followed by FLC with about 14 million.

The two markets had 35 stocks reach their ceiling, including MCG, TSC, JVC, LSS, VIP, DRH, OGC, and VIG.

Liquidity on the two markets was positive, with 153 million shares traded on HSX and 79 million on HNX, significantly higher than last Friday. Volumes fell in ten shares - VNM, FLC, HHS, SBT, FPT, OGC, BHS, SCR, SHI, and FI - which together accounted for 44 per cent of total trade.

Foreign investors were the reason liquidity increased, as VND180.8 million ($8.04 million) in shares were bought during the day, an increase of 29 per cent against Friday. Sales by foreign investors fell 58 per cent against the previous session, standing at VND64.2 billion ($2.85 million).

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