PV Gas drags down VN-Index

Investors study share movements at the Saigon Securities trading floor in Ha Noi. - VNS Photo Viet Thanh

On the HCM Stock Exchange, the decline of PV Gas (GAS), the biggest share in terms of market capitalisation, dragged the VN-Index down from the threshold of 580 points, and ended the session at 578.07 points.

However, the rise of other blue chips cushioned the fall, with 18 of the top 30 shares by market value and liquidity gaining in value, lifting the VN30 up 0.47 per cent to close at 617.96 points.

Gainers included Bao Viet Holdings (BVH), Hoang Anh Gia Lai Co (HAG) and PetroVietnam Drilling and Well Services Corp (PVD). Sai Gon Securities Inc (SSI), Southern Rubber Industry (CSM), HCM City Infrastructure Investment (CII) and Da Nang Rubber (DRC) were the other gainers.

Liquidity improved as compared with the previous session. The market volume jumped 30 per cent to 104.4 million shares and fund certificates, while the value of trades also increased 20 per cent to VND1.55 trillion (US$73.5 million). Real estate FLC Group (FLC) continued to be the most active code yesterday with a whopping 19.2 million shares, climbing 0.8 per cent to settle at VND11,400 a share.

By contrast, the HNX-Index on the Ha Noi Stock Exchange advanced 0.19 per cent to close at 78.08 points, rising for the third straight day.

The HNX30, tracking the top 30 shares on the bourse was also up 0.46 per cent to 158.20 points.

One of its members, Kim Long Securities Co (KLS) was the most active stock with 5.1 million shares but it closed flat at VND12,200 a share.

There was very little change since Monday, with the market volume worth nearly 45 million shares worth almost VND506 billion ($24 million).

General Statistics Office reported GDP growth at 5.18 per cent in the first quarter despite growing tension with China in the East Sea. According to many analysts, this optimistic economic data could have a positive impact on investors seeking positive information.

Foreign investors remained net buyers on the two stock exchanges with steady buys yesterday.

Their net buy values declined, however, as they picked up just a combined VND37 billion ($1.8 million) worth of shares on the two markets.