07:48 (GMT +7) - Monday 22/04/2019

Banking & Finance

May 16: VN-Index loses ground

Released at: 17:48, 16/05/2018 Stock Market Watch

May 16: VN-Index loses ground

Chart from tinnhanhchungkhoan.vn

HNX-Index and UPCoM-Index also close lower.

by My Van

The VN-Index closed down 18.88 points (1.76 per cent) to 1,054.62 points on May 16, while the HNX-Index lost 1.98 points (1.6 per cent) to 121.67 points and the UPCoM-Index 0.28 points (0.49 per cent) to 55.72 points.

Market liquidity remained unchanged, with only 195 million units changing hands worth VND660 billion ($28.9 million). The number of falling stocks was 341, against 192 risers.

Bluechips such as BVH, FPT, HPG, MSN, VIC, VRE, VJC, PLX, PNJ and VNM were in the red, as were many bank stocks.

Positive performers included GAS, PVD, PVB, PVS, PVT and PXS, while real estate stocks such as DXG, DIG and KBC also traded fairly well.

Sales pressure was heavy from the outset, hitting bluechips such as BVH, FPT, GAS, MSN, VIC, PLX, VJC and PNJ as well as ACB, BID, MBB, VCB, VPB and HDB.

VND rebounded and was up VND300 ($0.01). Other securities stocks, such as SSI, HCM, SHS and CTS, lost ground.

Oil and gas outperformed, with PVB, PVS, PVD, PVC and PXS gaining on the back of a recovery in global oil prices.

Banks that were stable and rose sharply yesterday saw an early correction, with the only riser being STB.

Half of the ten largest caps lost support while the remainder increased by less than 1 per cent.

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