Stocks continue dipping

Due to its loss in the morning, the VN-Index of the Hochiminh Stock Exchange fell deeply towards the 937-940 range early in afternoon trade. Stronger demand for some small- and big-cap stocks at the close gave a lifeline to the market.

At the end of the day, the benchmark index edged down 4.09 points, or 0.43%, to 950.08, with 113 stocks gaining and 163 others falling. There were 142.8 million shares worth VND3.3 trillion changing hands, up 3.4% in volume and down 16% in value, against the session earlier.

On the HCMC exchange, 44 million shares were transacted in block deals with a total value of VND1 trillion.

In the VN30 basket, only three bank stocks, including VCB, VPB and EIB, improved at the close, while seven others ended at their reference prices. Up to 20 stocks in the basket lost. Real estate stock VIC lost 0.43% at VND115,500 per share and dairy firm VNM slipped 1.6% at VND123,200 per share.

The southern bourse saw some of the big-cap stocks dropping sharply. HVN stock of national flag carrier Vietnam Airlines tumbled 2.88% at VND42,150 per share and pharmaceutical firm DHG slumped 2.5% at VND109,200 per share.

Construction firm ROS was the most actively traded stock, with 10.7 million shares changing hands.

While most of the blue chips closed down, many small-cap stocks gained ground, with property firm DLG, mining firm AMD and real estate developers HID, DRH and VPH shooting to their ceiling prices. Other small caps, such as agricultural material company TSC, shipping firm VOS, construction firm TGG, financial firm FIT, and property developer FLC, inched up.

The HNX-Index of the Hanoi Stock Exchange lost 0.06 points, or 0.06%, to 103.5 points. Trade volume plunged 18.7% to 22.2 million shares and value dropped 9% to VND268 billion against the day earlier.

Lender ACB and gas firm PVS advanced 0.35% and 0.45%, respectively, keeping the index of the northern bourse from a heavier loss. PVS led the Hanoi exchange by liquidity with 2.47 million shares traded, followed by lender SHB with 2.62 million shares.

In addition to SHB and PVS with high liquidity, bank stock NVB had over one million shares changing hands on the northern bourse.