Turnover drops to six-week low

HCMC – Though the stock market advanced for the second straight session, turnover slumped to a six-week low July 12 as investors took caution.

The HCMC exchange saw 176.5 million shares worth around VND3.5 trillion changing hands at the end of the day, down 21.7% and 17.7% from the previous session respectively. Put-through transactions also inched down with 12.7 million shares worth VND323 billion traded, falling 14% against Tuesday.

Notably, VN30 stocks saw nearly 50 million shares worth a combined VND1.3 trillion transacted, accounting for over 30% of the total trading value and making positive contributions to the market rise. With 20 stocks rising, eight falling and two moving sideways, the VN30 Index added 0.64% at 757.57.

The VN-Index, meanwhile, gained 4.81 points, or 0.63%, at 774.17 with GAS and VNM adding 2.7 points to the increase. The State-owned gas company GAS and the dairy firm VNM saw strong demand, jumping nearly 4% and 1.57% to VND62,500 and VND155,400 a share with respective volume of 1.4 million and 540,000 shares.

However, many bank stocks lost steam with BID dropping 2%, CTG falling 0.5%, VCB edging down 0.8% and STB moving flat.

Among speculative stocks, HAR, a property firm, and HAI, an agricultural chemical producer, continued hitting the ceiling prices. On the other hand, financial group OGC again plunged to its floor price with matching volume of 450,000 shares.

The HNX-Index also increased 0.14% at 100.56 while turnover on the Hanoi market slid to VND600.5 billion. The put-through market remained quiet with 1.62 million shares valued at VND14.8 billion traded.

The securities sector was the best performer with APG, VDS and VIG shooting up to the ceiling prices and PSI, SHS, VND and WSS jumping 2% to 4.5% each.

Like the southern bourse, many speculative stocks on the northern exchange went up to their upper prices. PVX, a construction enterprise, closed at the ceiling price and took the lead by liquidity with over 10 million shares after announcing good earnings results in the first half of 2017.

DST, a Nam Dinh Province-based firm focusing on books and educational equipment trading, rose to its upper limit for the second straight session with volume soaring to nearly five million shares. The banking sector, meanwhile, saw flat movements as key stocks SHB and ACB closed at the reference prices.

Source: english.thesaigontimes.vn

Collect by Nhu Ai SAPUWA