Investors watch share prices at Saigon Securities Inc’s trading floor in Hanoi (Photo: VNA) Hanoi (VNA) - Shares were on the defensive on February 28 as investorsoffloaded large-cap stocks and channeled money into small and penny stocks onexpectations of higher returns.
Thebenchmark VN-Index on the HCM Stock Exchange retreated 0.93 percent to close at710.8 points. On the previous day, the southern index edged up 0.42 percent.
Twentyfour of the 30 largest shares by market capitalisation and liquidity slumped,while only three advanced.
Financialsand property stocks, which have climbed substantially in the past rallies, wereunder the biggest selling pressure. They included Vietcombank (VCB), BIDV(BID), Vietinbank (CTG), Military Bank (MBB), private equity firm Masan Group(MSN), property developer VinGroup (VIC), Kinh Bac City Development (KBC).
Somecheap stocks continued their growth, such as FLC Group (FLC), Hoang Anh Gia LaiCo (HAG), Tan Tao Investment Industry Corp (ITA) and Eximbank (EIB).
“Afterseveral failures to break the threshold of 720 points, investors turned theirattention to small- and medium-cap stocks to seek higher returns,” said BuiNguyen Khoa, a stock analyst at BIDV Securities Co. Khoa said the marketexperienced a wide divergence as money flowed into different stock groups.
Sugarshares were sweet yesterday with most advancing. Bien Hoa Sugar (BHN) climbed6.8 percent, while others Sơn La Sugar (SLS), Lam Son Sugar (LSS), SafocoFoodstuff (SAF) increased between 1 percent and 3.5 percent.
Liquidityremained high with over 192 million shares worth 3.3 trillion VND (144.7million USD) traded in the southern market.
Onthe Hanoi Stock Exchange, the HNX-Index inched down 0.04 percent to end at theday-low at 86.8 points.
Tradingvolume decreased over 8 percent here, totaling over 56 million shares, butvalue increased 4.6 percent to reach 477.5 billion VND.
Twofirms made debuts on the Unlisted Public Company Market (UPCoM) yesterday,including Saigon–Quang Ngai Beer (BSQ) and EVN International (EIC).
Thebeer company floated 45 million shares on the UPCoM. This is a subsidiary ofsouthern brewery Sabeco (SAB) which is trading on the HCM Stock Exchange. Theshare rose by the maximum 40 percent on its first trading day at 31,600 VND ashare.
EVNInternational (EIC) listed 36.7 million shares, which hit the daily limit riseof 40 percent at 14,700 VND a share.
Foreigninvestors returned as net buyers yesterday, with a net value of 30 billion VND afteroffloading net sell value of 62 billion VND on February 27-VNA
Thebenchmark VN-Index on the HCM Stock Exchange retreated 0.93 percent to close at710.8 points. On the previous day, the southern index edged up 0.42 percent.
Twentyfour of the 30 largest shares by market capitalisation and liquidity slumped,while only three advanced.
Financialsand property stocks, which have climbed substantially in the past rallies, wereunder the biggest selling pressure. They included Vietcombank (VCB), BIDV(BID), Vietinbank (CTG), Military Bank (MBB), private equity firm Masan Group(MSN), property developer VinGroup (VIC), Kinh Bac City Development (KBC).
Somecheap stocks continued their growth, such as FLC Group (FLC), Hoang Anh Gia LaiCo (HAG), Tan Tao Investment Industry Corp (ITA) and Eximbank (EIB).
“Afterseveral failures to break the threshold of 720 points, investors turned theirattention to small- and medium-cap stocks to seek higher returns,” said BuiNguyen Khoa, a stock analyst at BIDV Securities Co. Khoa said the marketexperienced a wide divergence as money flowed into different stock groups.
Sugarshares were sweet yesterday with most advancing. Bien Hoa Sugar (BHN) climbed6.8 percent, while others Sơn La Sugar (SLS), Lam Son Sugar (LSS), SafocoFoodstuff (SAF) increased between 1 percent and 3.5 percent.
Liquidityremained high with over 192 million shares worth 3.3 trillion VND (144.7million USD) traded in the southern market.
Onthe Hanoi Stock Exchange, the HNX-Index inched down 0.04 percent to end at theday-low at 86.8 points.
Tradingvolume decreased over 8 percent here, totaling over 56 million shares, butvalue increased 4.6 percent to reach 477.5 billion VND.
Twofirms made debuts on the Unlisted Public Company Market (UPCoM) yesterday,including Saigon–Quang Ngai Beer (BSQ) and EVN International (EIC).
Thebeer company floated 45 million shares on the UPCoM. This is a subsidiary ofsouthern brewery Sabeco (SAB) which is trading on the HCM Stock Exchange. Theshare rose by the maximum 40 percent on its first trading day at 31,600 VND ashare.
EVNInternational (EIC) listed 36.7 million shares, which hit the daily limit riseof 40 percent at 14,700 VND a share.
Foreigninvestors returned as net buyers yesterday, with a net value of 30 billion VND afteroffloading net sell value of 62 billion VND on February 27-VNA
VNA
