Shares wobble on market uncertainty

Investors trace market fluctuations on the VNDirect stock trading floor in Hà Nội. — Photo tapchitaichinh.vn Investors trace market fluctuations on the VNDirect stock trading floor in Hà Nội. — Photo tapchitaichinh.vn chinh.vn

HÀ NỘI – Shares declined yesterday afternoon as investors increased selling on uncertainty of the market’s outlook.

The VN-Index, the measure of  三 一 五 stocks on the HCM Stock Exchange, erased earlier gains to close flat at  六 七 四. 六 points. The index has increased over 0. 三 per cent in the last two sessions.

On the Hà Nội Stock Exchange, the HNX-Index inched 0. 二 四 per cent to end at  八0. 九 points. It rose 0. 三 per cent in the previous three days.

Overall conditions were negative, with  二 六 三 out of total  六 九 二 stocks declining, while only  一 七 七 advanced.

Large-cap stocks led the downturn as  二0 of the top  三0 biggest stocks by market capitalisation lost value and only six advanced.

Losers included big financial companies and banks such as the second biggest listed lender Vietcombank (VCB), BIDV (BID) and Vietinbank (CTG), real estate firms such as HCM City Infrastructure Investment (CII), HCM Securities Inc (SHB) and Tân Tạo Investment Industry (ITA) and Kinh Bắc City Development (CII).

On the bright side, Hoàng Anh Gia Lai Group (HAG) and its agribusiness arm Hoàng Anh Gia Lai Agricultural (HNG) continued to rise and supported the market together with the growth of Masan Group (MSN) and Mobile World Group (MWG).

“Slight gains of stock indices accompanied by average liquidity show that the VN-Index would likely continue moving sideways at around  六 六 五- 六 八0 points,” stock analysts at Sài Gòn-Hà Nội Securities Co wrote in a report.

The VN-Index has been swinging between  六 六 五- 六 八0 points since the end of last month after hitting the year’s peak of  六 八 九 points on October  一 九.

Low priced stocks continued to attract money inflows such as FLC Group (FLC), Tân Tạo Investment Industry (ITA), Hoàng Anh Gia Lai Group (HAG), Hà Nội – Kinh Bắc Agriculture and Food (HKB), Vietnam Enterprise Investment and Development (FID) and C.E.O Group (CEO) and Bình Thuận Mineral (KSA).

All of these stocks were among the top five most heavily-traded shares on the two exchanges, with between two million and  一 七 million traded on each stock.

Liquidity was nearly unchanged compared to the previous session with over  一 六 八 million shares worth VNĐ 二. 六 trillion (US$ 一 一 六. 六 million) traded in the two markets.

Foreign investors concluded the trade as net sellers on the two exchanges, responsible for a combined net sell value of nearly VNĐ 七0 billion. – VNS