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December 14: VN-Index loses ground

Released at: 15:37, 14/12/2018 Stock Market Watch

December 14: VN-Index loses ground

Source: TVSI

Index down 0.26% in morning trade as regional movements leave mark.

by Hai Van

Negative movements in Asian markets had a negative effect on Vietnam’s stock market on December 14, will all indexes heading downwards from early on.

One positive point, however, was that selling pressure never became too strong and price support curbed losses.

At 9.55am, the VN-Index was down 2.18 points (0.23 per cent) to 958.07 points, the HNX-Index 0.17 per cent to 107.12 points, and the UPCoM-Index 0.25 per cent to 53.74 points. Liquidity was low, with a matching order value of VND600 billion ($25.8 million).

Stocks in the VN30-Index revealed signs of profit taking. Those to rise included CTD, FPT, GAS, DHG, and PLX, but not by significant amounts.

GAS, PVD, PVB, PVS, PGS and PVS saw a little more positivity overall, thanks to a recovery in global oil prices overnight.

The morning session fluctuated within a narrow band, with regional influences and a lack of foreign cash flows resulting in a degree of caution among investors.

The VN-Index closed the morning down 2.51 points (0.26 per cent) to 957.74 points, the HNX-Index 0.42 points (0.39 per cent) to 106.88 points, and the UPCoM-Index 0.29 per cent to 53.71 points. Market liquidity was generally low, with a matching order value of some VND1.8 trillion ($77.3 million).

Foreigners were net sellers by around VND25 billion ($1 million), primarily in HPG, by VND31.2 billion ($1.3 million). The E1VFVN30 fund was net bought by 30,000 units, or VND500 million ($21,485). 

Oil and gas was the most active group, with gainers including GAS, PVS, PVD, PVB and PXS, though again not by significant amounts.

The VN30 was quite balanced, with some falling and some rising. CTD, GAS, PNJ, and SAB counted among the most noticeable gainers, while VJC closing at VND128,400 ($5.5) put it among the worst performers.

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