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VN-Index tumbles on big sales
Huge sales pushed the VN-Index down on Aug. 20 with the index closing at 508.47 after sliding 2.06 points, or 0.6 percent, although market liquidity and trading value remained high.
Trading volume reached 32.38 million shares and fund certificates for a turnover of 1.2 trillion VND (72.7 million USD). The HCM Stock Exchange (HOSE) saw 49 winners and 100 losers at the end of the day.
Huge sales were seen on the day, with investors likely cashing in their profits after 10 straight days of increases leading up to August 19, and the daily trading band loosened for the domestic stock market on August 18.
Experts expected the move late last week, saying the expanded trading band, now 5 percent for HOSE and 7 percent for the Ha Noi bourse, would enable investors to reach expected profits.
Foreign investor transactions slowed on August 20, with more than 3 million shares bought and about 2 million units sold. The figures were 5.88 million and 2.67 million on Tuesday.
At the Hanoi Securities Trading Centre, the HASTC-Index slipped 2.73 points or 1.71 percent to end at 156.78. Trading volume fell by 18 percent to 13.95 million shares with a total value of 601.8 billion VND (36.47 million USD).
Asia Commercial Bank (ACB) continued to lead the market in terms of trading volume with around 2 million shares changing hands, followed by Kim Long Securities (KLS) with 1.35 million units.
Tien Phong Plastic (NTP), Petroleum Technical Services Corp (PVS) and Song Da No 10 Joint Stock Co (SDT) were also active with about 750,000 shares traded of each.
VNA
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