Shares fall on increased selling force, declining liquidity

VIETNAM, December 16 –

The workers of the Việt Nam Rubber Group (GVR) collect the milk latex. Shares of the company (GVR) lost 1.05 percent yesterday. Photo

HÀ NỘI – Vietnamese markets extended their losses on Wednesday amid heightened selling pressure and dwindling liquidity.

On the Hồ Chí Minh (HoSE) stock exchange, the benchmark VN-Index edged down 0.04% to end at 1,475.50 points.

It edged down 0.01% to finish Tuesday at 1,476.02 points.

The market width was negative with 197 winners and 264 losers.

Liquidity declined from the previous session with 906 million shares traded on the Southern Stock Exchange, valued at almost VN 26 trillion ($ 1.12 billion).

The VN30 index, which tracks the 30 largest stocks on HoSE, gained 0.20% to end at 1,519.42 points. Sixteen of the 30 stocks in the VN30 basket posted gains, while 12 declined.

In the 30 VN basket, Tiên Phong Bank (TPB) rose 3% and was the biggest winner, reaching 52,000 VN per share. The Masan Group (MSN) also gained nearly 3 percent. Novaland (NVL) also rose nearly 2% at the end of the session.

On the downside, PVPower (POW) fell 3%, PetroVietnam Gas JSC (GAS) also fell 0.5%. Vingroup (VIC), SSI Securities Inc (SSI), VPBank (VPB) and The Việt Nam Rubber Group (GVR) fell more than 1%.

Steel stocks were under strong selling pressure with Nam Kim Group (NKG) closing the session at the lowest price of the day, slightly up 0.4% from the benchmark. In the morning session Hoa Sen Group (HSG) won again, but in the afternoon session it lost 0.3% from the previous session. The Hoà Phát (HPG) group has cooled considerably compared to the morning session. Other steel stocks like Thái Nguyên Iron And Steel JSC (TIS), SMC Trading Investment Joint Stock Company (SMC), Tiến Lên Steel Group Joint Stock Company (TLH), Viet Nam Steel Corporation (TVN) and Pomina Steel Corporation (POM) ) decreases.

Seventeen of the stock market’s 25 sector indices posted losses, including securities, oil and gas, construction, retail, seafood production, insurance, wholesale and l ‘Agriculture.

On the other side, the winners were IT, real estate, banking, healthcare, food and beverage, rubber production, building materials and logistics.

At the Hà Nội Stock Exchange (HNX), the HNX index lost 0.22 percent, to close 453.70 points on Wednesday.

On Tuesday, he lost 0.63% to finish at 454.68 points.

During the session, investors poured over 3 trillion VN into the market, equivalent to a trading volume of 112.8 million shares. – VNS

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