Investors follow securities markets at the Hanoi-based Sai Gon Securities Inc (Source: VNA)Hanoi (VNS/VNA) -Vietnamese shares ended January 31 on a negative note, driven by thefinancial-banking, energy and brokerage sectors.
The benchmark VN-Index onthe HCM Stock Exchange edged down 0.02 percent to close at 1,110.36 points. Itinched up 0.07 percent to close at 1,110.56 points on January 30.
The minor HNX Index on the HanoiStock Exchange dropped 1.15 percent to end at 125.90 points.
The index edged up 0.01 percentto close at 127.36 points on January 30.
Nearly 452.2 million shareswere traded on the two local exchanges, worth 11.9 trillion VND (420.8 millionUSD).
Declining stocksoutnumbered gaining ones by 272 to 217, while 126 other stocks ended flat.
Large-cap stocksunderperformed, as 18 of the 30 largest stocks by market capitalisation in theVN30 Index suffered, pulling the large-cap index down 0.30 percent to 1,095.90points.
Among the worst declinerson the VN30 basket included Bao Viet Holdings (BVH), down 4.3 percent;Coteccons Construction Joint Stock Company (CTD), declining 2.1 percent; FPTCorporation (FPT), falling 1.7 percent; and Vietnam Dairy Products Joint StockCompany (VNM), dipping 0.5 percent; as well as Vietjet Aviation Joint StockCompany (VJC), decreasing 1.03 percent.
The three sectors ofbanking, energy and brokerage sectors suffered strong selling pressure on January31 as the industries’ indexes decreased 2.42 percent, 6.81 percent and 4.13 percent,respectively, data on vietstock.vn showed.
The worst decliners in thebanking sector were Bank for Investment and Development of Vietnam (BID), andMilitary Commercial Joint Stock Bank (MBB), which were down 5 percent and 2.74 percentrespectively.
The energy sector also sawpoor performance with many blue-chips declining, including PetroVietnamDrilling & Well Services Corporation (PVD), dropping 6.95 percent,PetroVietnam Technical Services Corporation (PVS), falling 9.8 percent andDrilling Mud Joint Stock Corporation (PVC), decreasing 9.09 percent.
The brokerage sector wasdriven down by Saigon - Hanoi Securities JSC (SHS), decreasing 4.17 percent, HoChi Minh City Securities Corporation (HCM), down 2.7 percent and MB SecuritiesJoint Stock Company (MBS), falling 1.23 percent.
According to BIDVSecurities JSC (BSC), the money flow into the market was still relatively largebut strong selling force will continue to shake the market.
“Investors should avoidbottom fishing in this period, instead, they should monitor the market and keeptrack of stocks already showing signs of recovery within one to two days,” BSCsaid in its daily report.-VNA
VNA
