VN-Index the only main index to lose ground on February 17.
The VN-Index was the only main index to finish lower on Vietnam’s stock market on February 17.
The VN-Index fell 1.52 points (0.21 per cent) on HSX while the VN30-Index increased 0.38 points (0.06 per cent), the VNMid-Index 7.01 points (0.82 per cent), and the VNSml-Index 2.18 points (0.28 per cent).
On HNX, the HNX-Index closed 0.24 points (0.28 per cent) higher, the HNX30-Index 0.29 points (0.19 per cent) and the UPCoM-Index 0.06 points (0.11 per cent), while the VNALL-Index lost 4.63 points (0.46 per cent).
HSX saw a 128 point increase followed by a 133 point decrease while HNX saw a 132 point increase followed by a 117 point decrease.
Liquidity on HSX reached VND3.2 trillion ($140.4 million), down 6 per cent compared to yesterday, and on HNX was VND441 billion ($19.34 million), 20 per cent lower.
The VN-Index opened at 709.35 points and quickly hit its peak of the day of 710 points before easing to 707.2 points. It then recovered to reach 709.6 points and gradually lost ground and closed the morning session at 708 points. In the afternoon it quickly fell to 705.9 points, recovered to 707.7 points, dropped to 705.4 points, and then increased to finish the day at 707.83 points.
No food and beverage stocks closed higher, with VNM losing 1.5 per cent, BHN 0.63 per cent, MSN 0.6 per cent, KDC 0.5 per cent, and SAB 0.3 per cent, while SBT closed at its opening price.
In banking, CTG saw the heaviest loss, shedding 2.1 per cent, while VCB fell 0.8 per cent and BID 0.6 per cent. STB increased 5.3 per cent, EIB 4.9 per cent and MBB 1 per cent.
In energy, GAS and CNG lost 0.7 per cent and 0.5 per cent, respectively, while PGD rose 0.25 per cent.
Among other large caps on HSX, VIC closed at its opening price, ROS and NVL both increased 0.8 per cent, and HPG and BVH lost 0.9 per cent and 0.6 per cent, respectively.
ROS was again the highest-traded share on the market, with VND425 billion ($18.6 million) changing hands. HPG followed, with VND240 billion ($10.5 million). The largest cap, VNM, saw trade of VND124 billion ($5.4 million).
On HNX, ACB, NTP, SHB and VNR closed at their opening price, VCS increased 2.3 per cent, VCG 1.3 per cent and PVI 0.8 per cent, while PHP and PVS fell 3.6 per cent and 0.5 per cent, respectively.
Foreign investors net sold on HSX by VND36 billion ($1.6 million) and net bought on HNX by VND8 billion ($350,960).
The last session of the week saw a significant division, especially in the VN30 group. Overall, fluctuations in both indexes was more serious than in the previous week, which stemmed from the adverse effect of consumers and State-owned lenders. However, the movement, in which the VN-Index broke the 710-mark before retreating slightly, was forecast. Notably, we see large amounts going to mid- and small-caps, especially in recommended groups like rubber, real estate, construction, and construction materials, though the general benchmarks’ results were not so positive. The return of speculators also made a contribution to the market, as some brokers have been opening margin activities. Another encouraging point was foreign net-buying, concentrated on the VN30. We believe that the two retreats were technical and the market is still in an uptrend. Therefore, investors should retain a high stock weight and take advantage of retreats in order to purchase fundamentally good shares or stocks with high money. Chasing actions are riskier as the VN-Index is trading in a sensitive range.
KIS Vietnam Securities Corporation