September 17: VN-Index up less than a point

by Hai My The market moved slowly within a narrow range on the morning of September 17, due to renewed concerns about trade tensions and portfolio restructuring. The VN-Index ended the day up by less than one point.

HSX saw 106 gainers and 163 decliners. Unusually, the VN-Index fluctuated separately from stock price increases. In recent sessions, even when the index fell the number of stocks gaining still outnumbered decliners.

The VN-Index closed up 0.08 per cent as the VN30-Index lost 0.23 per cent. Midcaps were even and small caps increased 0.08 per cent. The trading band in blue-chips was quite narrow, with the VN30-Index having only ten gainers and 18 decliners. Fortunately, the group still had some strong pillars.

The best was VNM, rising 2.18 per cent in the morning session thanks to support from foreign investors, who bought over 61 per cent of its trading volume and pushed up prices. TCB gained 4.16 per cent; it’s best day since early August and quite unexpected.

In the VN30-Index, only GAS increased significantly, by 1.3 per cent. VPB rose 1.03 per cent and HSG 2.25 per cent but neither had any effect on the VN-Index. Poor performers included SAB, PLX, and VHM.

A number of blue chips fell: VIC by 0.89 per cent, VCB 0.63 per cent, VJC 1.01 per cent, VRE 0.92 per cent, and CTG 0.56 per cent.

On HNX, PVS increased 1.33 per cent and PLC 8.77 per cent. ACB lost 0.59 per cent, SHB 1.18 per cent, and VGC 1.07 per cent. The HNX-Index closed down 0.2 per cent with 65 shares increasing and 70 shares decreasing. The HNX30-Index gained 0.33 per cent, with 14 shares increasing and nine decreasing.

The market saw cautious trade amid ongoing talk about a trade war, with the US planning to impose additional tariffs worth $200 billion on Chinese imports. The China and Hong Kong stock markets lost 1.06 per cent and 1.64 per cent, respectively.

Liquidity on the two exchanges was not strong, with total matching order value down nearly 5 per cent from the previous session and standing at VND2.1 trillion ($90.2 million). Neither had stocks with trading volumes exceeding VND100 billion ($4.2 million). The highest were VNM and PVS, with VND95.5 billion ($4.1 million) and VND94.9 billion ($4.07 million), respectively.

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