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Shares tumble on foreign selling

Investors follow transactions at the Hà Nội Stock Exchange (HNX). The HNX-Index tracking  三 七 七 stocks inched down 0. 三 per cent to  八0. 九 points. It increased 0. 九 per cent in the previous week. -- Photo cafeland.vn

HÀ NỘI – Local shares declined yesterday on the two national stock exchanges as foreign investors increased selling caused by uncertainty on the fate of the Trans-Pacific Partnership (TPP).

The benchmark VN-Index, the measure of  三 一 四 stocks on the HCM Stock Exchange, edged down 0. 九 per cent to close at  六 七 三. 一 points. The index had gained  一. 九 per cent last week.

On the Hà Nội Stock Exchange, the HNX-Index tracking  三 七 七 stocks inched down 0. 三 per cent to  八0. 九 points. It increased 0. 九 per cent in the previous week.

Foreign investors were net sellers in HCM City’s market yesterday for a total value of VNĐ 二 七 二 billion (US$ 一 二. 二 million). They sold shares worth VNĐ 五 二 二 billion, making up  二 一. 二 per cent of total trading value in the market, while picking up only VNĐ 二 五0 billion worth of net buy value.

Heavy selling pressure dragged down stock prices of large-cap companies. Private equity business Masan Group (MSN) plunged  四 per cent. Dairy giant Vinamilk (VNM) slipped  二. 六 per cent. Real estate developer VinGroup (VIC) fell  二. 五 per cent and lender BIDV (BID) decreased  二. 二 per cent.

Of the top  三0 largest shares by market capitalisation, only seven advanced and up to  二 三 stocks tumbled.

“Traders were uncertainty about the fate of Trans-Pacific Partnership after the Obama administration suspended the trade deal,” stock analysts at FPT Securities Company wrote in a report.

The destiny of TPP will depend on newly-elected US President Donald Trump and Republican lawmakers who were not in favour of the deal, in which Việt Nam is reportedly the biggest beneficiary.

Overall market condition was negative when the number of losing stocks outnumbered that of gaining ones by  二 四 六- 一 八 八. Another  二 五 七 closed unchanged.

On the bright side, FAROS Construction Corporation (ROS) hit the daily limit rise of  七 per cent to VNĐ 一 一 六, 二00, roughly  一0 times higher than the starting price on the floating day on October  一 四.

Investors bet on mineral and coal shares following sharp rises in prices of “black gold” in the global markets.

Coal prices have begun to recover since early this year after more than eight years of decline. As of November, coal price has increased by  一 一 二 per cent, the best performer this year compared with other energy co妹妹odities.

Local coal shares hit the ceiling prices of  七- 一0 per cent yesterday, including Vinacomin – Núi Béo Coal (NBC), Vinacomin – Cọc Sáu Coal (TC 六), Vinacomin - Hà Tu Coal (THT) and Bắc Giang Exploitable Mineral (BGM).

Liquidity increased with a total of  一 五 九. 六 million shares worth VNĐ  二. 八 trillion traded in the two markets, up  三 八. 八 per cent in volume and  四 七. 四 per cent in value compared to the previous session’s levels. – VNS