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Banking & Finance

March 7: Volatile afternoon as all main indexes down

Released at: 17:55, 07/03/2018 Stock Market Watch

March 7: Volatile afternoon as all main indexes down

Source from TVSI

Buying after market falls sharply curbs losses on March 7.

by Ngoc Han

The afternoon session on Vietnam’s stock market on March 7 was quite dramatic, with significant volatility unsettling investors. The VN-Index fell more than 15 points in the session, with one positive being that selling pressure was not too strong.

As soon as the market fell sharply, money flowed in immediately to help curb the decline to some extent.

At the end of the day, blue-chips such as VPB, SAB, BHN, VIC, VNM, MSN, and ROS had gained and the VN-Index lost just 8.03 points (0.72 per cent), closing at 1.112 points. VNM had the most positive impact on the market, increasing more than VND4,000 ($0.47).

The HNX-Index also fell, by 1.73 points (1.36 per cent), to 125.6 points and the UPCoM-Index lost 0.54 points (0.89 per cent), to close at 60.47 points. Market liquidity was 363 million units, worth VND9.1 trillion ($399.7 million).

Securities shares again attracted good cash flows, such as MBS, VND, SSI, BVS, BSI, and FTS, as did mid-sized bank shares such as VPB, VIB, LPB, and KLB.

VPB increased VND600 ($0.02) in the morning session, with foreign investors picking up 2 million shares, mostly at the ceiling price of VND66,100 ($2.9).

HAG and HNG maintained their positive momentum, with trade in HNG being in surplus by nearly 4 million shares. Speculative stocks such as HAI, AMD, TSC, FIT, KLF, and FLC also reached their limit.

On HSX, foreign investors net bought for the second consecutive day, by 5.08 million shares worth VND84.49 billion ($3.7 million).

On the HNX, foreign investors had their second net selling day, by 2.22 million shares worth VND29.14 billion ($1.28 million).

Foreign investors net sold on UPCoM by 1.76 million shares worth VND45.43 billion ($1.9 million).

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