HCMC bourse trading value hits seven-session low

The trading value on the Ho Chi Minh Stock Exchange (HoSE) on Thursday went down 15% from the previous session to VND11.7 trillion ($498.4 million), the lowest level in the past seven sessions.

The VN-Index, which represents the HoSE, gained 2.84 points, or 0.27%, to 1,064.63, with nearly 670 million shares changing hands. The major bourse saw 216 losers and 172 gainers.

The VN30 index, which tracks the performance of 30 largest-cap stocks, inched up 0.6 points to 1,062.15.

Affected by the State Bank of Vietnam’s ceiling deposit and policy interest rate cuts on Thursday, banking codes continued to plunge on strong selling pressure.

Fifteen out of 27 banking tickers fell, with SGB of Saigon Bank losing 6.1%, STB of Sacombank 1.46%, SHB of Saigon-Hanoi Bank 0.84%, ACB of Asia Commercial Bank 0.2%, and VPB of VPBank 1.03%.

According to top broker VNDirect, VPB, STB and SHB were among the top 10 most negative influencers on the HoSE.

However, this group still recorded four gainers namely LPB of LienVietPostBank, VCB of Vietcombank, BID of BIDV, and NAB of NamABank.

Securities stocks showed negative performance with SSI of Saigon Securities down 0.88%, VND of VNDirect Securities 1.55%, HCM of Ho Chi Minh City Securities 1.14%, FTS of FPT Securites 2.72%, CTS of Vietinbank Securities 2.11%, and APS of Asia-Pacific Securities 3.27%.

Meanwhile, a divergence was seen in real estate, manufacturing, retail, energy and aviation groups.

Foreign investors were net sellers on the HoSE for the fourth consecutive session to the tune of over VND400 billion ($17 million). They mainly net sold HPG of steel giant Hoa Phat, VND of VNDirect, and HSG of Hoa Sen Group.

The HNX-Index on the Hanoi bourse rose 0.82 points to 216.78, while the UpCOM-Index on the unlisted public company market fell 0.22 points to 80.71.