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Banking & Finance

August 29: VN-Index down as HNX-Index up

Released at: 16:05, 29/08/2018 Stock Market Watch

August 29: VN-Index down as HNX-Index up

Charter from tinnhanhchungkhoan.vn

Differing days for two bourses.

by My Van

Sales pressure appeared suddenly in the afternoon session on August 29.

At the close of trade the VN-Index had lost 7.02 points (0.71 per cent). The HNX-Index, however, increased 0.54 points (0.48 per cent) and the UPCoM-Index 0.05 points (0.10 per cent). Bottom buying in the closing minutes was not enough to save the Index.

Market liquidity continued to be stable, with a total matching order value of VND4.3 trillion ($184.8 million). Foreign investors net sold by VND100 billion ($4.2 million), primarily in VNM, with VND90 billion ($3.8 million).

Though falling, market movements were not too negative, with well-performing stocks including PNJ, SSI, DXG, VJC, BVH and SAB, and bank stocks such as ACB, HDB and TPB.

Real estate and construction was quite active, with gainers including VPI, NLG, VGC, DXG, DIG, FLC, HBC and HDG. Most oil and gas stocks, meanwhile, lost ground.

HAG and HNG also traded quite well, with closing prices the highest of the session.

An Phat Plastics (AAA) also reached its highest price in the final few minutes, of VND17,350 ($0.74), with trade jumping to 2 million units. HII rose slightly, to VND16,750 ($0.72).

The morning session saw strong fluctuations, with the VN-Index losing nearly 7 points, but cash flows provided support each time it fell deeply.

The market seems divided. Banking stocks such as ACB, BID and HDB are attracting good cash flow, as are DIG, DXG, HDG, LDG and SCR in real estate. HAG and HNG also surprised by rising sharply this morning.

Bluechips such as PNJ, MSN, HPG, BVH and MSR gained ground, while VHM, VJC, PLX, VRE, VIC, GAS and FPT fell as the market fluctuated.

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