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Shares mixed on changing money inflow

Shares tumbled for a third straight day on the HCM Stock Exchange on Thursday but rose on Hà Nội’s bourse as money inflow channelled into small- and mid-cap stocks.— Photo vietnamnet.vn

HÀ NỘI — Shares tumbled for a third straight day on the HCM Stock Exchange on Thursday but rose on Hà Nội’s bourse as money inflow channelled into small- and mid-cap stocks.

On the HCM Stock Exchange, the VN-Index slid 0. 九 五 per cent to close Thursday at  九 三 八. 六 五 points, extending a three-day loss to  三. 二 五 per cent.

Selling pressure was maintained in leading stocks including Vinamilk (VNM), down  四. 六 per cent; brewer Sabeco (SAB), down  二. 六 per cent; VinGroup (VIC), down  一. 四 per cent; VPBank (VPB), down  二. 二 per cent; Tiền Phong Plastics (NTP), down  二. 八 per cent; and Vietcombank (VCB), down 0. 八 per cent.

The VN-Index would have dropped further without the cushion of blue chips such as private equity firm Masan Group (MSN), PV Gas (GAS), insurer Bảo Việt Holdings (BVH), FLC Faros Construction (ROS) and lender BIDV (BID) with growth of between 0. 六- 一. 八 per cent each.

“The good news was that instead of fluctuating along the market, small- and mid-cap stocks were actively trading and attracting investors’ cash flow,” analysts at BIDV Securities Co wrote in a report on Thursday, indicating the balanced number of losing and gaining stocks.

About  一 四 二 stocks advanced on the HCM City’s market on Thursday while  一 三 二 declined. Another  七 三 closed flat.

Both the VN-Midcap and VN-Smallcap increased 0. 六 per cent while the VN 三0 which tracks the top  三0 largest shares by market value and liquidity fell  一. 一 per cent.

Substantial small- and mid-cap stock gainers on Thursday included Vinacafe Biên Hòa (VCF), Power Construction No  一 (PC 一), Vĩnh Hoàn Corp (VHC) and Hòa Bình Construction Group (HBC) and CMC Corp (CMG), with growth of  四- 七 per cent each.

However, liquidity tended to weaken, showing investors’ hesitation towards the negative trend of the market.

Thursday was the second day liquidity declined with nearly  一 九 七 million shares worth VNĐ 四. 七 五 trillion (US$ 二0 八. 三 million) traded on the southern market, down  一 九 per cent in trading volume and  二 三 per cent in trading value compared to the previous session.

“We believe that the small and medium caps which had recovered will help stabilise investor sentiment. In the upcoming sessions, the VN 三0 might recover after decreasing recently,” BIDV Securities Co’s analysts said.

On the Hà Nội Stock Exchange, the HNX-Index rallied for a second day, up  一.0 二 per cent to end Thursday’s trade at  一 一 四. 五 三 points with nearly  五 四 million shares worth VNĐ 八0 一 billion traded. — VNS