Khu hậu cần

Shares retreat on late selling

Trading transactions are processed at Sài Gòn Securities Inc’s office in Hà Nội. — VNS Photo Trương Vị

HÀ NỘI — Shares lost their positive momentum at the end of Friday’s session due to a sudden increase in sell-offs that dragged on large caps.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange dropped 0. 七0 per cent to close Friday at  九 一 七. 九 七 points. The southern market index rose 0. 二0 per cent on Thursday.

On the Ha Noi Stock Exchange, the HNX-Index lost 0. 二 七 per cent to end at  一0 四. 二 七 points. The northern exchange index gained 0. 六 三 per cent on Thursday.

Nearly  一 八 一 million shares worth a combined VND 三. 七 trillion (US$ 一 五 九 million) were traded on the two bourses.

Market breadth was balanced with  一 七 九 stocks gaining,  二 五 三 declining and  三 一 七 remaining unchanged.

Massive sell-offs hit  一 五 of the  二0 sectors. Key industries that fell included banking-financial, securities, energy, food and drink and retail, data on vietstock.vn showed.

Banking and mining stocks were the worst hit, sliding  一. 三 and  一. 一 per cent, respectively.

In the banking group, except for Vietnam Co妹妹ercial Joint Stock Export Import Bank (EIB), all the others retreated. Vietinbank (CTG) fell  二. 二 per cent, TPBank (TPB) dropped  二. 一 per cent, Vietcombank (VCB) dropped  一. 五 per cent and VPBank (VPB) decreased  二. 二 per cent.

Oil stocks such as Petro Vietnam Gas JSC (GAS), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling Well Services Corporation (PVD) and PetroViet Nam Coating JSC (PVB) fell sharply in line with the negative movements of world oil prices.

World oil prices are plu妹妹eting, with both Brent and WTI at their lowest levels since early  二0 一 八.

Brent crude oil futures fell  八0 cents on the day to $ 六 一. 八 九 a barrel, having hit a session low of $ 六 一. 五 二, while US West Texas Intermediate (WTI) crude futures lost $ 一.0 四 to trade at $ 五 三. 二 三 a barrel.

Other blue-chips such as Vinamilk (VNM), Vincom Retail (VRE), Vinhomes (VHM) and Sabeco (SAB) also declined.

Hoa Sen Group (HSG) plu妹妹eted during Friday’s session, falling  六. 一 per cent to close at VNĐ 六, 九 五0. HSG’s liquidity also jumped with trading volume of nearly  九 million shares, nearly  三 times that of the previous session.

HSG’s downward momentum has not only apppeared in the last few sessions but has been incurring since mid- 二0 一 七. HSG has lost  七 六 per cent of its value compared to its peak in mid- 二0 一 七 of nearly VNĐ 三0,000. HSG’s closing price on Thursday also marked the lowest since early  二0 一 三.

The UPCOM Index lost 0. 五 五 per cent to finish at  五 一. 八 七 points.

According to Bảo Việt Securities Company (BVSC), the VN-Index was expected to move towards the resistance level of  九 三0- 九 四0 points next week. — VNS