HCMC bourse trading value falls 11%

The trading value on the Ho Chi Minh Stock Exchange (HoSE) on Friday hit over VND9.3 trillion ($396.6 million), down 11.4% from the previous session.

The benchmark VN-Index, representing the HoSE, inched down 0.3 points, or 0.03%, to 1,040.31, with 223 losers and 154 gainers.

Blue chips were the main reason for the market decline as their VN30 index dropped 1.18 points to 1,038.46, with up to 20 tickers closing in red.

Stocks in the food-beverage industry became a bright spot in the session, with LSS of Lam Son Sugar Joint Stock Corporation, NST of Ngan Son Joint Stock Company, and VLF of Vinh Long Cereal and Food Corporation hitting their ceiling prices. Many other tickers in this group also enjoyed a sharp increase.

The development came after food-beverage firms are expected to see net profit growth again thanks to stable sales and higher average selling prices.

The steel group also showed positive performance with almost all codes gaining, including HPG of giant Hoa Phat, HSG of Hoa Sen Group, NKG of Nam Kim Steel Corp., BVG of Bac Viet Group, and DTL of Dai Thien Loc Corp.

Red overwhelmed the real estate, energy, electricity and gas groups, while banking and insurance stocks saw a divergence.

Foreign investors were net sellers on the HoSE to the tune of nearly VND176 billion ($7.5 million). They mainly net sold STB of Sacombank, CTG of VietinBank, KBC Of Kinhbac City Development Holding Corp., VND of VNDirect Securities, and VPB of VPBank.

The HNX-Index on the Hanoi bourse fell 0.35 points to 207.8, while the UpCOM-Index on the unlisted public company market went up 0.29 points to 77.56.