VN-Index down after two days of gains

The main index lost 1.24 points, with 188 stocks rising and 166 others falling. Trade volume totaled 238.5 million shares valued at VND3.9 trillion, up 12% in volume but down 2% in value against the session earlier. Block deals contributed VND1.2 trillion to the total value.

Cash flow focused on small and medium stocks, driving most of them up to the ceiling prices, such as property group FLC, real estate firms DLG and LDG, construction enterprise ROS, agricultural firm HAI and realty firm QCG. As a result, the volume on the southern bourse rose while the value fell.

FLC took the lead on the southern exchange by liquidity with a matching volume of more than 19.5 million shares, followed by lender STB with 12 million shares traded.

Among the top 10 large-cap stocks, housing developer VHM, property firm VIC and lenders CTG and VPB stayed at their reference prices, while some others finished the day down.

Some bank stocks, including VCB, BID and MBB, also lost ground, adding pressure on the main index.

The VN-Index is forecast to recover during the remaining sessions of the week and the southern market is expected to head toward the resistance zone of 905-910 points in the short term, according to Bao Viet Securities Company.

Meanwhile, the Hanoi exchange saw the HNX-Index added 1.45 points to 114.02, with 76 gainers and 61 losers. There were 91.6 million shares worth VND1 trillion transacted, up 14% and 11.7%, respectively, against the session earlier.

Closing the session, lender SHB climbed by 6.2% at VND12,000 per share, with 50 million shares changing hands, followed by lender ACB with five million shares traded.

Service firm KLF, electric device producer MBG and securities firm PVX shot up to the ceiling prices at the close.