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Main indexes down as VN-Index back to 710 points

Released at: 19:06, 17/04/2017 Stock Market Watch

Main indexes down as VN-Index back to 710 points

VN-Index loses 10 points in afternoon session on tough April 17.

by Yen Thanh

All main indexes on Vietnam’s stock market lost ground on April 17.

On HSX, the VN-Index fell 7.62 points (1.06 per cent) and the VN30-Index 9.14 points (1.35 per cent). The VNMid-Index increased 13.41 points (1.46 per cent) and the VNSml-Index lost 8.84 points (1.10 per cent).

On HNX, the HNX-Index closed down 1.34 points (1.49 per cent), the HNX30-Index 3.76 points (2.24 per cent), the UPCoM Index 0.15 points (0.27 per cent), and the VNALL-Index 13.02 points (1.25 per cent).

Liquidity on HSX reached VND3.6 trillion ($159 million), 6 per cent higher than last Friday, and on HNX was VND628 billion ($27.6 million), 7 per cent higher.

The VN-Index opened at 718.45 points and reached 721.7 points at the very beginning of the morning session then returned to its opening level before fluctuating and closing at 719.3 points. In the afternoon it recovered to 720 points but then tumbled dramatically and finished the day at 710.83 points.   

In food and beverages, SAB and VNM increased 1.5 per cent and 0.2 per cent, respectively. SBT closed at its opening price while all other large caps closed down: MSN by 3.3 per cent, KDC 2.7 per cent, and BHN 2.5 per cent.

All banking shares fell: BID by 3.8 per cent, STB 3.5 per cent, CTG 2.9 per cent, VCB 2.4 per cent, MBB 0.7 per cent, and EIB 0.4 per cent.

In energy, PGD increased 0.7 per cent, CNG 0.3 per cent, and GAS 0.2 per cent.

In real estate, KDH increased 0.8 per cent, VIC closed at its opening price, and DXG hit its floor in falling 6.8 per cent. KBC lost 0.7 per cent and NVL and FLC 0.4 per cent.

Among other large caps, ROS shed 4 per cent, CTG 2.9 per cent, BVH 1.2 per cent, and VJC 1.1 per cent.

ROS saw the highest liquidity on HSX, with VND1 trillion ($44 million), followed by HPG with VND136 billion ($6 million), DXG with VND125 billion ($5.5 million), and FLC with VND124 billion ($5.4 million).

On HNX, PHP increased 0.6 per cent while SHB fell 5.3 per cent, VCS 3.2 per cent, VCG 2 per cent, PVS 1.8 per cent, and ACB 1.7 per cent.

Foreign investors net bought on HSX by VND118 billion ($5.2 million) and net sold on HNX by VND14 billion ($616,700).

Today’s decline showed that the market continues to be wary of mounting geopolitical uncertainty, which prompted a surge in selling activities. Global equities also added to downward momentum. The VN-Index has now experienced three days of consecutive losses because widespread profit-locking pressure has been put on most groups, from bluechips to smallcaps. The VN30-Index and VN100-Index formed long candles, confirming the short-term downtrend. Our short-term trend confirmation indicators downgraded the VN-Index’s trend from neutral to downtrend. In upcoming sessions, we expect the VN-Index’s range of decline will narrow as the benchmark slips to the support level of 705 points, if liquidity remains positive. However, we cannot dismiss the possibility that the VN-Index will retest 685-690 points if liquidity weakens. Therefore, we recommend investors not raise their stock exposures immediately. Instead, a strategy of taking profit and accumulating cash to prepare for potential bottom-taking action is more suitable.

KIS Vietnam Securities Corporation


 

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