Foreign investors net buy VND200 bln as VN-Index sinks nearly 10 points

SGGP
Foreign investors focused on buying blue-chip stocks and returned to net buy more than VN210 billion in the last trading session in May on May 31 but failed to buoy the market due to strong selling pressure from local investors.
Foreign investors bought 13.2 million shares worth VND575 billion while they sold 7.2 million shares worth VND362 billion. Total net buying was 6 million shares worth VND212.8 billion.Since the beginning of the trading session, red dominated the market as cash flow into the market was weak. Gas and oil stocks were sold heavily as global fuel price declined, dragging down the market. By the end of trading session, GAS lost nearly 4 percent, PVS fell nearly 5 percent and PVD plummeted more than 5 percent.
At the same time, securities, banking, real estate and garment and textile stocks also dropped simultaneously. Despite bottom-fishing demand at the end of the trading session, the benchmark still fell off the 960-point mark after losing nearly 10 points.
The VN-Index retreated for fourth consecutive trading session, cutting 9.46 points, or 0.98 percent, to 959.88 points with 90 winners, 200 losers while 60 stocks remained unchanged.
On the Hanoi Stock Exchange, the HNX-Index erased 0.97 points, or 0.92 percent, to  close at 104.35 points with 70 stocks advancing, 78 declining and 52 standing still.
Liquidity on the market remained at low level with total trading volume on both trading floors at 165 million shares worth VND3.6 trillion.

By Nhung Nguyen – Translated by Thuy Doan

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