An investor follows transactions at Saigon Securities Inc (SSI) in Hanoi (Photo: VNA) Hanoi (VNA) -Shares fell slightly on January 24 on the Hanoi Stock Exchange after rising forfour consecutive sessions, due to investors’ profit-taking attempts that hitthe large-cap stocks in the energy and banking sectors.
The southern stock exchange has been shut down for two days in a row. Itexperienced a technical crash at 2.31pm on January 22, halting all tradingactivities.
The HNX Index declined slightly, 0.05 percent, to end at 126.26 points. Thenorthern market index rose nearly 5 percent in the last four sessions.
Over 60 million shares were traded on the northern exchange, worth nearly 1.1trillion VND (48.3 million USD), down 44 percent in volume and 27 percent invalue compared with January 23’s figures.
According to Bao Viet Securities Company (BVSC), market liquidity remainedrelatively below the moderate level, while market breadth was neutral.Investors turned cautious after the bullish session on Tuesday. Cash inflowsweakened as a number of stocks on the Hanoi Stock Exchange surged in theprevious session.
“From our view, cash inflows will return to large-cap stocks on the HCM CityStock Exchange (HOSE) when this bourse reopens in the next few days,” BVSC saidin its daily report.
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The market trading condition was quite balanced, with 93 gaining stocks against95 declining ones and 67 stocks closing unchanged.
The energy sector suffered large selling pressure, with laggards includingPetroVietnam Coating JSC (PVB) and PetroVietnam Technical Services Corporation(PVS), down 2.23 percent and 0.32 percent, respectively.
The brokerage sector also saw a weak performance, with Saigon-Hanoi SecuritiesJSC (SHS) and BVSC, declining 0.42 percent and 0.97 percent.
Other losers were construction-material producers, including Viglacera Tien SonJoint Stock Company (VIT), down 2.98 percent.
Foreign investment on HNX became more positive on January 23 than the previoussessions with net buying of over 18.7 billion VND. Vietnam Construction andImport-Export Joint Stock Corporation (VCG) received the greatest amount offoreign capital with 8.8 billion VND. The second-largest receiver was PVS withnearly 8 billion VND.
“The two-day shutdown of the HoSE can certainly have an impact oninvestors’ sentiment after the bourse reopens. However, the market’s uptrend inthe mid-term is still sustained as a number of large listed companies haverevealed solid earnings results in 2017,” BVSC said in its daily report.-VNA
VNA
