HA NOI (VNS)— Shares dropped further on both national stock exchanges in the afternoon session.
On the HCM City Stock Exchange, the VN-Index lost 0.17 per cent, falling to 510.03 points, as the benchmark index continued to fluctuate in the resistance band of 510-513 points.
With more than 103.881 million shares traded, total trading value reached VND1.377 trillion (US$65.57 million).
The VN30-Index, tracking the southern city’s top shares by capitalisation and liquidity, lost 0.3 per cent to 569.18 points, with losers overwhelming gainers by 16-6.
Logistics company Gemardetp (GMD) increased VND1,800 ($0.085) to VND34,000 ($1.62) per share, and Vinamilk (VNM) added VND1,000 ($0.049) to VND142,000 ($6.76) per share. Four others rose by VND100-300 ($0.0049-0.014) per share.
The gains, however, failed to support the VN30-Index when PetroVietnam Drilling (PVD) lost VND1,000 ($0.049), FPT Group (FPT), a technology company, lost VND700 ($0.03), Vietcombank (VCB) fell VND600 ($0.048), and Masan Group (MSN) and Bao Viet Group (BVH) lost VND500 ($0.023) per share.
Other losers included big names such as Vietinbank (CTG), Hoa Phat Group (HPG), Hoa Sen Group (HSG), HCM City Infrastructure Investment (CII) and Hoang Anh Gia Lai Group (HAG).
Further, the cash flow into blue chips slowed yesterday while increasing strongly into stocks of securities and the real estate sector, pushing these stocks higher.
According to FPT Securities, cash flow was rotating around different stock groups with optimism about the market at the end of the year.
Of note, the afternoon session witnessed strong selling and the VN-Index sometimes dropped to 508 points.
Overall, 113 stocks lost while 102 others managed to increase.
The HNX-Index on the Ha Noi Exchange slid slightly by 0.07 per cent to 66.07 points.
The HNXFF-Index, comprised of stocks with a minimum free-float rate of 5 per cent, gained 0.01 per cent to 66.19 points, on an upward trend since the beginning of the week, when it was launched.
On the northern bourse, more than 43.35 million shares changed hands, with a total value of VND324.58 billion ($15.45 million).
The VN-30 Index, composed of the 30 largest shares, fell 0.28 per cent to 125.36 points.
Viet Nam Investment Securities also said it expected strong cash flow into the market to boost the VN-Index and HNX-Index to surpass the resistance points of 113 points and 66 points, respectively. — VNS