Investors at Tan Viet Securities Inc in Hanoi (Photo: VNA) Hanoi (VNA) - Shares declinedon the two national stock exchanges on December 21, dragged by bank stocks, asinvestor sentiment remained unstable on the market outlook.
On the HCM Stock Exchange, the VN-Indexdropped 0.78 percent to close trade at 946.06 points. Meanwhile, the HNX-Indexon the Hanoi Stock Exchange edged down 0.33 percent to end at 113.57 points.
Both stock indices decreased on the previousday.
Energy and bank stocks, which were themarket drivers in the previous session, slumped on December 21.
Six of 10 listed banks on the two stockexchanges lost value and only two advanced. The Big Three (three biggest banksby market value) – Vietcombank (VCB), Vietinbank (CTG) and BIDV (BID) – alldecreased by over 1 percent.
Among oil and gas stocks, only PV Gas (GAS)maintained a tiny gain of 0.3 percent while other companies such asPetroVietnam Drilling and Well Services (PVD) and PetroVietnam Drilling Mud(PVC) both declined 3.8 percent.
Large caps were on the downtrend side with17 of the top 30 largest shares by market value and liquidity on the HCM StockExchange slipping and only nine advancing.
“Overall, distinct stories could not createa strong bullish sentiment. We believe it is rather difficult for the market tosee a strong uptrend until early 2018,” Quang Vo, a stock analyst at Viet DragonSecurities Co wrote in a note.
On the positive side, Vinamilk (VNM)increased 0.94 percent; insurer Bao Viet Holdings (BVH) was up 1.2 percent; andsteelmaker Hoa Phat Group (HPG) increased 0.2 percent.
HPG rose for a seventh straight day in arow with total growth of 11 percent, being traded at over 44,000 VND (1.93 USD).It also topped the foreign net buys for a second day with over five millionshares in the past two days.
According to Quang Vo, HPG’s attractioncomes from its expected outstanding Q4 business results due to the increasingsteel prices. Besides, the new coated-steel plant coming into operation fromearly 2018, along with the Mandarin Garden apartment being handed over in Q4this year, is also a plus.
Trading value improved on December 21, worth acombined 7.1 trillion VND (312.5 million USD) in the two markets, up 9.2 percentover the previous session, but total trading volume decreased 2 percent to 284million shares. - VNA
On the HCM Stock Exchange, the VN-Indexdropped 0.78 percent to close trade at 946.06 points. Meanwhile, the HNX-Indexon the Hanoi Stock Exchange edged down 0.33 percent to end at 113.57 points.
Both stock indices decreased on the previousday.
Energy and bank stocks, which were themarket drivers in the previous session, slumped on December 21.
Six of 10 listed banks on the two stockexchanges lost value and only two advanced. The Big Three (three biggest banksby market value) – Vietcombank (VCB), Vietinbank (CTG) and BIDV (BID) – alldecreased by over 1 percent.
Among oil and gas stocks, only PV Gas (GAS)maintained a tiny gain of 0.3 percent while other companies such asPetroVietnam Drilling and Well Services (PVD) and PetroVietnam Drilling Mud(PVC) both declined 3.8 percent.
Large caps were on the downtrend side with17 of the top 30 largest shares by market value and liquidity on the HCM StockExchange slipping and only nine advancing.
“Overall, distinct stories could not createa strong bullish sentiment. We believe it is rather difficult for the market tosee a strong uptrend until early 2018,” Quang Vo, a stock analyst at Viet DragonSecurities Co wrote in a note.
On the positive side, Vinamilk (VNM)increased 0.94 percent; insurer Bao Viet Holdings (BVH) was up 1.2 percent; andsteelmaker Hoa Phat Group (HPG) increased 0.2 percent.
HPG rose for a seventh straight day in arow with total growth of 11 percent, being traded at over 44,000 VND (1.93 USD).It also topped the foreign net buys for a second day with over five millionshares in the past two days.
According to Quang Vo, HPG’s attractioncomes from its expected outstanding Q4 business results due to the increasingsteel prices. Besides, the new coated-steel plant coming into operation fromearly 2018, along with the Mandarin Garden apartment being handed over in Q4this year, is also a plus.
Trading value improved on December 21, worth acombined 7.1 trillion VND (312.5 million USD) in the two markets, up 9.2 percentover the previous session, but total trading volume decreased 2 percent to 284million shares. - VNA
VNA
