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Banking & Finance

VN-Index slips but still above 760 points

Released at: 20:14, 15/06/2017 Stock Market Watch

VN-Index slips but still above 760 points

Three days of gains end as VN-Index down slightly on June 15.

by Yen Thanh

The VN30-Index was the only main index on Vietnam’s stock market to increase on June 15.

On HSX, the VN-Index lost 0.2 points (0.03 per cent) while the VN30-Index gained 1.06 points (0.14 per cent).

On HNX, the HNX-Index fell 0.11 points (0.11 per cent), the HNX30-Index 3.06 points (1.73 per cent), and the UPCoM-Index 0.36 points (0.62 per cent).

Liquidity on HSX reached VND3.3 trillion ($145.4 million), 8 per cent lower than yesterday, and on HNX was VND492 billion ($21.7 million), 13 per cent lower.

The VN-Index opened at 760.77 points and eased to 760 points early on, then rose to its peak of the day of 762.6 points mid-session before losing ground and closing the morning at 760.9 points. It tumbled to its bottom of the day of 758.2 points in the middle of the afternoon session before edging upwards and closing the day at 760.57 points.

In food and beverages, KDC and VNM increased 0.2 per cent and BHN 0.1 per cent. SAB closed at its opening price and SBT and MSN lost 1.2 per cent and 0.8 per cent, respectively.

In banking, CTG rose 1 per cent and VCB 0.8 per cent. EIB closed at its opening price while STB fell 1.8 per cent, MBB 1.2 per cent, and BID 1 per cent.

In energy, PGD gained 0.2 per cent while CNG lost 1.3 per cent, GAS 1 per cent, and PLX 0.3 per cent.

In real estate, VIC increased 1.9 per cent, QCG 1.4 per cent, and KDH 1.1 per cent. KBC closed at its opening price while FLC and NVL shed 1.5 per cent and 0.5 per cent, respectively.

Among other large caps, HPG rose 2.4 per cent and FPT 0.4 per cent while ROS lost 7 per cent, BVH 1 per cent, and VJC 0.4 per cent.

HPG saw the highest liquidity on HSX, of VND378 billion ($16.7 million), followed by ROS with VND212 billion ($9.3 million), VCB with VND118 billion ($5.2 million), BID with VND115 billion ($5.1 million), and the largest cap, VNM, with VND63 billion ($2.8 million).

On HNX, PHP increased 2 per cent, NTP 0.8 per cent, and VCG 0.5 per cent. SHB and VNR closed at their opening price while PVS fell 1.2 per cent, ACB 1.1 per cent, PVI 0.6 per cent, and VCS 0.5 per cent.

Foreign investors net bought on HSX by VND252 billion ($11.1 million) and on HNX by VND12 billion ($528,720).

The market retreated slightly after three consecutive days of gains due to profit-locking pressure on large-caps at the close, led by ROS, GAS, BID, MBB, and BVH. Liquidity also slipped, while foreign demand was in big names such as HPG, VCB, VNM, VIC, and HBC, which underpinned the market. Money once again rotated into mid-cap stocks, which kept the market breadth positive. Although we are still bullish, with new targets of 780-785 points for the VN-Index and 100-100.5 points for the HNX-Index, investors remain cautious as they wait for second-half business results. The uptrend is therefore likely to slow in the short term before heading to new targets. In upcoming sessions, it is possible the VN-Index and the HNX-Index may retest 747-750 points and 97 points, respectively. This will open up buying opportunities for investors.

KIS Vietnam Securities Corporation

 

 

 

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