Gloomy trading casts pall over market

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VietNam News English - 79 month(s) ago 9 readings

Shares on the HCM Stock Exchange retreated this morning following yesterday's rally.


The VN-Index dived 1.4 per cent to finish the day on 410.12 points, more than half of all listed stocks losing ground.

Trading, as a result, was sluggish. Only VND274.9 billion (US$13.3 million) worth of shares (16.7 million) was traded, causing a 21-per-cent decrease in value and a 14-per-cent decrease in volume compared to the previous day.

The jump of some blue chips failed to push the VN-Index up as food producer Masan Group (MSN), one of the 10 largest capitalised shares, bottomed out.

Insurer Bao Viet Holdings (BVH), property developers Hoang Anh Gia Lai (HAG) and Vincom (VIC), PetroVietnam Finance (PVF) and Sacombank (STB) tumbled between 0.7-3.9 per cent.

Ony four of the 10 leading shares managed gains.

STB was again the most-active code on the southern bourse, with a modest 66,300 of its shares changing hands.

The HNX-Index on the Ha Noi Stock Exchange lost another 0.4 per cent to conclude the session on 70.74 points.

Losers outnumbered gainers by 155-78.

Market value reached only 84 per cent of yesterday's figure, closing at VND192.4 billiom ($9.3 million) on a volume of 19 million shares.

PetroVietnam Construction Corp (PVX) claimed the highest trading volume nationwide, around 1.8 million of its shares exchanged. - VNS

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