Shares sank for a third day on the nation’s two exchanges on July 24 as investors remained wary of the market outlook (Photo: VNA) Hanoi (VNA) - Vietnamese sharesfell for a third session in both local markets on July 24, driven down bysecurities firms, energy companies and property developers.
The benchmark VN-Index on the HCM StockExchange dropped 0.28 percent to close at 759.74 points. It had fallen total1.2 percent in the previous two sessions.
The HNX-Index on the Hanoi Stock Exchangedeclined by 1.05 percent to end at 96.93 points, posting a total three-day lossof 1.9 percent.
The two local indices lost over 2 percentand 2.5 percent for the whole previous trading week.
More than 219.8 million shares were tradedon both local bourses, worth 3.53 trillion VND (157 million USD). The July 24 tradingfigures were also the lowest in the last three months.
Foreign investors remained net buyers,posting a net buy value of 178.3 billion VND, an increase of 277 percent from July21.
Investor selling to gain profits in most ofthe penny and small-cap stocks was the major factor that pulled the marketdown, BIDV Securities wrote in its daily report.
A part of the profits went back into bankstocks and blue chips, helping them advance, while most of the profits werekept as cash, proving that investors were taking a wait-and-see attitude, BSCadded.
🐠[Vietnam's stock market to remain strong in second half of 2017]
The stock market was driven down by stocksin the property, energy and securities sectors. Those sector indices lostbetween 0.7 percent and 1.5 percent, according to vietstock.vn.
In those three sectors, companies that sawtheir share prices down included Tan Tao Investment and Industry (ITA),Sacomreal (SCR), FLC Group (FLC), PetroVietnam Gas (GAS), PetroVietnamTechnical Services (PVS), Viet Dragon Securities (VDS), Saigon Securities (SSI)and Saigon -Hanoi Securities (SHS).
Other industries, such as pharmaceuticalfirms, rubber producers and insurance-finance companies also performed badly.On the other hand, banks, food and beverage producers and plastic companies didwell.
In the banking sector, five of the ninelisted bank stocks made gains. MBBank (MBB) posted the biggest growth rate of 2percent and Eximbank (EIB) recorded the slightest at 0.4 percent.
The food and beverage sector also performedwell, led by dairy company Vinamilk (VNM), consumer goods producer Masan (MSN)and sugar firm Bien Hoa Sugar JSC (BHS).-VNA
VNA
