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Blue-chip sales pull index down
Large amounts of blue chip stocks continued to be sold yesterday, causing the VN-Index to go down 2.55 per cent to 532.17.
Among 160 stocks and fund certificates listed in the HCM City Stock Exchange, 58 codes advanced, 88 slid and 14 were unchanged.
A series of blue chips recorded big losses yesterday, such as Binh Dinh Minerals (BMC), Financing and Promoting of Technology (FPT), and Song Da Urban-Industrial Zone Investment and Development (SJS).
Meanwhile, small and middle value stocks tend to keep moving up.
The southern market yesterday saw a record trading volume of 35.17 million shares, with a total turnover of VND1.24 trillion (US$75.15 million).
Surprisingly, the more familiar stocks such as STB, DPM or HGP were not most heavily traded; instead, the penny stock Viet Nam Tanker (VTO) had the highest volume traded in the session with 3.24 million shares changing hands.
Saigon Securities Inc (SSI) came next with 2.50 million shares, and then Viet Nam Petroleum Transport (VIP) with 2.39 million shares.
In Ha Noi Securities Trading Centre, the HASTC-Index also saw a decline of 3.58 per cent to 182.37.49 codes increased in value, 91 decreased and 4 were unchanged.
The biggest gainers in this market yesterday were all small and middle stocks; for example, the construction company Tasco Co (HUT), Nam Dinh Education Book and Equipment (DST) or Long An Education Book and Equipment (LBE).
Vinaconex (VCG), which just began being listed in the bourse on September 5, suffered another decline 560,000 VCG shares changed hands yesterday.
The northern centre also hit a record trading volume of 22.71 million shares, generating a revenue of VND840.93 billion (US$50.97 million).
Kim Long Securities (KLS), Asia Commercial flank (ACB) and Bim Son Cement (BCC) were the heaviest traded codes yesterday. KLS was the front-runner with over 4 million shares exchanged, while ACB and BCC each had about 1.5 million shares traded.
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