HCM City bourse dips, Ha Noi stocks gain

The VN-Index in HCM City inched down 0.14 per cent to close the session at 603.16 points as investors increased selling blue chips to gain marginal profits. - File Photo

The VN-Index in HCM City inched down 0.14 per cent to close the session at 603.16 points as investors increased selling blue chips to gain marginal profits.

Large-cap shares like Masan Group (MSN), PetroVietnam Drilling Wells Service (PVD), Kinh Do Corp (KDC), Bao Viet Holdings (BVH) and Hoa Sen Group (HSG) all fell steeply.

The VN30 which tracks the top 30 shares by market value and liquidity dipped by 0.47 per cent to end at 638.87 points.

Money continued to pour into realty stocks such as FLC Group (FLC), Tan Tao Investment Industry Corp (ITA), Kinh Bac City Development (KBC). However, all of these shares still lost value.

FLC remained the most active stock with more than 21 million shares traded, but the share price slumped by four per cent to close at VND11,900.

Liquidity improved over Wednesday's market as both market volume and value rose 20 per cent, totalling 157.5 million shares worth almost VND2.5 trillion (US$118 million).

Foreign investors continued to unload shares in HCM City's market yesterday, responsible for a net sale value of VND109 billion ($5.1 million) worth of shares.

By contrast, the HNX-Index in Ha Noi climbed to an eight-month high of 91.49 points, up 0.39 per cent over Wednesday's close.

Hot stocks like KLF Joint Venture Global Investment Co (KLF) remained the centre of attention in Ha Noi. The share continued to be the most active code with 18.7 million shares changing hands, but the price dropped by 4.2 per cent to VND13,700 after recent strong gains.

The trading volume was little altered from the previous day, totalling just under 78 million shares at a net worth of VND1.15 trillion ($54.2 million).

Foreign sectors again concluded the day as the largest buyers with a pick up of VND14.5 billion ($731,100) worth of shares.

"Money is still flowing well in the market and the outlook remained in a positive sideways condition. However, we recommend investors to keep a reasonable ratio of cash in preparation for active buys when the market declines," analysts of FPT Securities Co said yesterday.