Illustrative photo (Source: VNA) Hanoi (VNA) - The benchmark VN-Index retreated to 720 points on May 5 whichrepresented a decline of 0.28 percent as bank and agribusiness shares loststeam.
Fiveof six listed banks on the HCM Stock Exchange lost value, including banks thatrose in the previous sessions like BIDV (BID), Vietinbank (CTG), Vietcombank(VCB), Sacombank (STB) and Eximbank (EIB) with decreases of 0.3-2.5 percent.
OnlyMilitary Bank (MBB) bucked the trend with gains of 1.2 percent.
Agribusinesslike Hoang Anh Gia Lai Co (HAG) and Hoang Anh Gia Lai Agricultural Investment(HNG) and food producers like Masan Group (MSN), Vinamilk (VNM) and Kido Group(KDC) also fell.
“Negativetrading today was mainly driven by profit-taking selling pressure on large-capstocks which have gained substantially in the previous sessions such asVinamilk and banks,” analysts at BIDV Securities Joint Stock Company (BSC)wrote in a note.
TheVN-Index bouncing back to 720 points after the gauge dropped below this levelin mid-session showed investors’ confidence in this level, BSC’s analysts said.
Onthe bright side, PetroVietnam Drilling and Wells Service (PVD) recoveredfollowing four consecutive losing sessions, rising by the maximum of 7 percentin a single session on HCM City’s bourse to 16,450 VND (0.72 USD) a share.
HoaSen Group (HSG) was another big gainer among the top 30 shares by market valueand liquidity, up 2.2 percent to 49,650 VND a share, after the steelmakingcompany announced a dividend rate of 50 percent and bonus shares of 20 percent.
Onthe Hanoi Stock Exchange, the HNX-Index was up 0.21 percent to end at 89.71points. The northern gauge decreased 0.33 percent on May 4.
Accordingto BSC’s analysts, cash flows seemed to withdraw from large-cap stocks andchannel into medium- and small-cap stocks.
Mostof the 10 most active stocks on the two exchanges on May 5 had prices below 10,000VND a share.
Liquiditydeclined substantially in the two markets with a total of nearly 243 millionshares worth a combined 4.3 trillion VND (189.4 million USD) traded, down 9.3 percentin volume and 17.3 percent in value compared to the May 4 figures.
Foreign investors were mixed on May 5. They werenet sellers in HCM City’s market for nearly 33 billion VND but remained netbuyers on the Hanoi’s exchange with a net value of nearly 3 billion VND.-VNA
Fiveof six listed banks on the HCM Stock Exchange lost value, including banks thatrose in the previous sessions like BIDV (BID), Vietinbank (CTG), Vietcombank(VCB), Sacombank (STB) and Eximbank (EIB) with decreases of 0.3-2.5 percent.
OnlyMilitary Bank (MBB) bucked the trend with gains of 1.2 percent.
Agribusinesslike Hoang Anh Gia Lai Co (HAG) and Hoang Anh Gia Lai Agricultural Investment(HNG) and food producers like Masan Group (MSN), Vinamilk (VNM) and Kido Group(KDC) also fell.
“Negativetrading today was mainly driven by profit-taking selling pressure on large-capstocks which have gained substantially in the previous sessions such asVinamilk and banks,” analysts at BIDV Securities Joint Stock Company (BSC)wrote in a note.
TheVN-Index bouncing back to 720 points after the gauge dropped below this levelin mid-session showed investors’ confidence in this level, BSC’s analysts said.
Onthe bright side, PetroVietnam Drilling and Wells Service (PVD) recoveredfollowing four consecutive losing sessions, rising by the maximum of 7 percentin a single session on HCM City’s bourse to 16,450 VND (0.72 USD) a share.
HoaSen Group (HSG) was another big gainer among the top 30 shares by market valueand liquidity, up 2.2 percent to 49,650 VND a share, after the steelmakingcompany announced a dividend rate of 50 percent and bonus shares of 20 percent.
Onthe Hanoi Stock Exchange, the HNX-Index was up 0.21 percent to end at 89.71points. The northern gauge decreased 0.33 percent on May 4.
Accordingto BSC’s analysts, cash flows seemed to withdraw from large-cap stocks andchannel into medium- and small-cap stocks.
Mostof the 10 most active stocks on the two exchanges on May 5 had prices below 10,000VND a share.
Liquiditydeclined substantially in the two markets with a total of nearly 243 millionshares worth a combined 4.3 trillion VND (189.4 million USD) traded, down 9.3 percentin volume and 17.3 percent in value compared to the May 4 figures.
Foreign investors were mixed on May 5. They werenet sellers in HCM City’s market for nearly 33 billion VND but remained netbuyers on the Hanoi’s exchange with a net value of nearly 3 billion VND.-VNA
VNA
