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Shares drop further on low liquidity
Vietnam News - 7/18/2020 7:00:00 AM
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The market experienced an uneventful trading day Tuesday with sideways movements and slight fluctuations among declining liquidity.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HOSE) edged down 0.07 per cent to close at 868.11 points.
 
The index had declined 0.29 per cent to close Monday at 868.72 points.
 
Market liquidity stayed low with more than 239 million shares traded on the southern market, worth VNĐ4 trillion (US$173 million).
 
Market breadth was neutral with 178 decliners and 181 gainers.
 
The VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, decreased 0.1 per cent to close Tuesday at 805.37 points.
 
The market continues to experience a divergence among stock sectors.
 
Real estate, information and technology, oil and gas, agriculture and construction all lost ground.
 
On the opposite side, wholesale, insurance, securities, banking, food and beverage, rubber production, seafood processing and logistics were among the gaining sectors.
 
Pillar stocks differentiated strongly in Tuesday’s session with gainers including insurer Bảo Việt Holdings (BVH), SSI Securities Incorporation (SSI), Vietinbank (CTG), PetroVietnam Gas JSC (GAS), Hoà Phát Group (HPG), Mobile World (MWG), Vinhomes (VHM), Vietcombank (VCB) and dairy firm Vinamilk (VNM).
 
In the opposite direction, other blue-chips remained hardly troubled such as Military Bank (MBB), Masan Group (MSN), Novaland (NVL), Sabeco (SAB), VPBank (VPB), Vincom Retail (VRE) and Techcombank (TCB).
 
According to Thành Công Securities Company, at present, market sentiment will still mainly depend on the second quarter business results.
 
“The VN-Index is likely to experience fluctuations when approaching the point range of 875-885. Stock groups will differentiate according to second-quarter business results,” the company said.
 
“We recommend investors maintain the proportion of shares in their portfolio at 30-50 per cent and focus on stocks with positive business results in the second quarter,” it said.
 
On the Hà Nội Stock Exchange (HNX), the HNX-Index was down 0.42 per cent to end Tuesday at 116.14 points.
 
The index had dropped 0.01 per cent to end Monday at 115.65 points.
 
More than 36 million shares were traded on the northern market, worth VNĐ368 billion. 
 
Foreign investors net sold VNĐ73.12 billion on HOSE. They were net sellers on the HNX with a value of VNĐ2.08 billion. — VNS 
 
Read original article here
 
 
 
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