The VN-Index slipped back onto its journey south, after a brief tease upwards, dropping 4.21 points to close at 930.86.
Most top caps’ stock prices dropped or didn’t change. Sacombank (STB), Pha Lai Thermal Power (PPC), Saigon Cables & Telecommunication Materials (SAM), Hoa Phat (HPG), Hatien 1 Cement (HT1) and Schenker-Gemadept Logistics (GMD) were among the “lucky few” to remain at reference prices.
Otherwise, the market bled red as big caps dropped their draws. Minh Phu Seafood (MPC) and Itaco (ITA) cast off VND3,000. FPT Corporation (FPT), Petro Vietnam Drilling and Well Services (PVD) and PVTrans (PVT) dropped VND2,000. Vinamilk (VNM), Vinh Son Hydropower (VSH) and Ree Technology (REE) fell VND1,000.
Despite active promotional activities, Saigon Securities (SSI) and Vitaco (VTO) could not buck the trend and were each dragged down a touch.
Many companies are now announcing positive year-end results but investors are apparently unimpressed.