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Banking & Finance

July 2: VN-Index struggles

Released at: 19:34, 02/07/2018 Stock Market Watch

July 2: VN-Index struggles

Source from TVSI

Index down 1.42% after tumbling in morning session.

by Hai My

Sales pressure mounted in the morning session on July 2 while demand remained cautious, with the VN-Index slipping to 940 points. Demand was stronger in the afternoon and the Index found itself closer to 930.

By the close of the day it had fallen 13.63 points (1.42 per cent) to 947.15 points, with 62 stocks increasing and 237 losing ground. Trade reached 168.21 million shares worth VND4.08 trillion ($177.3 million), up 15 per cent in volume but down 2 per cent in value compared to last Friday.

Bottom-fishing helped some blue-chips recover, such as VNM, VCB, HDB, NVL and SAB, of which SAB increased 2 per cent to VND230,000 ($9.9). HPG, PLX, BHN also returned to their reference prices.

Stocks such as YEG, VCI, HCM, and HSG, however, closed at their floor price, as did SBT, PNJ, CVT, ANV and SJF and smaller caps such as CTS, LDG, VRC, ITA, PPI, ATG, TDG and KMR. DXG lost 3.13 per cent and closed at VND26,300 ($1.1) on 7 million shares traded and SSI fell 3.51 per cent on 7.55 million shares.

In banking, apart from VCB and HDB, others fell sharply, including TCB, CTG and BID, down more than 4 per cent, MBB down more than 5 per cent, and STB down 3.9 per cent.

The HNX-Index lost 3.4 points (3.21 per cent), closing at 102.76 points with 50 stocks increasing and 110 falling. Trade reached 43.79 million shares worth VND710 billion ($30.9 million), up 53 per cent in volume and 67.6 per cent in value compared to last Friday.

The UPCoM-Index fluctuated throughout the afternoon session and closed lower than it did in the morning, losing 1.14 points (2.18 per cent) for the day, down 50.84 points with 37 stocks increasing and 115 losing ground. Trade was 10 million units, of which put-through transactions contributed nearly 1 million units.

UPCoM was livelier in the afternoon when LPB, BSR and VEA saw over 1 million units traded, of which BSR was at its reference price of VND17,600 ($0.76) at the close.

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