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Banking & Finance

August 31: VN-Index down 0.85%

Released at: 17:07, 31/08/2018 Stock Market Watch

August 31: VN-Index down 0.85%

Source: TVSI

Losses on both bourses amid strong sales pressure.

by My Van

Afternoon trade on August 31 took place amid increasingly rising sales pressure while bid volumes remained at a cautious level, causing the index to weaken rapidly.

The VN-Index closed down 8.53 points (0.85 per cent) to 989.54 points, the HNX-Index 0.65 points (0.58 per cent) to 112.93 points, and the UPCoM-Index 0.05 points (0.09 per cent) to 51.73 points. Liquidity increased slightly with a matching order value of more than VND5 trillion ($214.6 million). 

Foreigners were net sellers by VND45 billion ($1.9 million) on HSX but overall were net buyers.

Blue-chips such as PNJ, VRE, VJC, PLX, GAS and MSN as well as bank stocks declined in the afternoon, bringing the market down. FPT, BVH, HPG and VPB rose but not sufficiently to offset losses elsewhere.

PVD, PVS, PVB, PVC, and GAS all lost ground.

Most banking stocks fell: VCB by 2 per cent. CTG 1.6 per cent, BID 1.4 per cent, STB 1.3 per cent, and MBB 1.7 per cent.

VPB gave the market some support, rising 1.6 per cent on the second-highest liquidity of the day, of 9.39 million units.

HNG was a bright spot, rising VND17,900 ($0.76) though closing lower than its peak. HAG closed down, at VND6,790 ($0.29).

HPG was the most-bought stock by foreigners, with VND69.38 billion ($2.9 million), followed by E1VFVN30, SSI, KDC and HDB. 

On HNX, foreigners were net buyers for the fourth consecutive session, by 1.43 million shares valued at VND31 billion ($1.3 million).

Foreigners also net bought on UPCoM, by 1.58 million shares worth VND20.3 billion ($872,455).

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