Old ghosts return to haunt market

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Báo Đầu Tư English - 39 month(s) ago 5 readings

Old ghosts return to haunt market

The stock market dipped Tuesday on investors’ local macroeconomic uncertainties.

Domestic gold climbed to nearly VND200,000 this morning to VND46.8 million per tael, far surpassing global prices.

Meanwhile, investors largely kept waiting for consumer price index figures for September, which are expected to reduce, but still add to an already-high inflation level this year.

The benchmark VN-Index of Ho Chi Minh Stock Exchange lost 7.31 points or 1.58 per cent, closing at 454.37 points.

The HNX-Index of Hanoi Stock Exchange (HNX) shed 1.63 points or 2.14 per cent to 74.38 points.

Real estate stocks were among the top losers, with Ocean Group (OGC) and Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC) both hitting the floor and Licogi 16 (LCG) off 3.47 per cent.

Banking shares Vietcombank (VCB) and Vietinbank (CTG) both fell more than 2 per cent each. Saigon Securities Inc. (SSI) lost 1.46 per cent, while PetroVietnam Finance (PVF) hit the floor.

Blue-chips Bao Viet Holdings (BVH) and Masan Group (MSN) hit the floor and Vinpearl Tourism and Trading (VPL) sharply slipping.

As many as 193 stocks ended lower on the southern bourse, compared with 52 up and 55 unchanged.

Trading volume was little changed at 46.15 million shares worth VND886.72 billion ($43.2 million), among them 7.37 million shares worth VND286 billion ($13.9 million) were negotiated.

Becamex Infrastructure Development (IJC), a stock that newly added in ETF fund Market Vectors Vietnam’s portfolio, still outperformed the market with 2.2 million units matched. But, the stock lost 3.57 per cent today.

The HNX saw 200 stocks fall, compared with just 68 up. Driving stocks like Bao Viet Securities (BVS), PetroVietnam Construction (PVX) and Vinaconex (VCG) lost 2-3 per cent.

The total volume gained to 42.4 million shares worth VND490 billion ($20.5 million), helped by the put-through volume rising to 4.27 million shares worth VND71.2 billion ($3.47 million).

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