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Heavy sales send Index down
The sale of most listed stocks drove the VN-Index down 2.05 percent to end on Oct. 1 at 568.99 points.
On the HCM Stock Exchange, over 75 percent of 177 listed stocks and certificate funds declined, the highest rate for two months.
The stock market has hovered around 582 points for the past few days, with different groups of stocks gaining and losing, said a Hanoi analyst, adding that it has been unfavourable for the market’s growth, particularly after a bullish period.
The daily value of the southern market dropped to 3.1 trillion VND (174.15 million USD), with 61.13 million shares changing hands. Sacombank (STB) was the most heavily traded stock, with 6.4 million shares changing hands. The Hanoi Stock Exchange’s HNX-Index declined for the second day, losing 181.39 points or 1.57 percent.
Just over 41 million shares were traded, worth 1.7 trillion VND (95.5 million USD). Kim Long Securities (KLS) was the most heavily traded, with 4.2 million shares changing hands.
The Hanoi analyst said the high trading volume would indicate pressure to sell, adding that capital safety was the main consideration. Meanwhile, she said day traders should continue to hedge-sell and then buy back.
Foreigners on Oct. 1 were still net sellers by 700,000 shares in HCM City, while they turned positive to net buyers in Hanoi by 323,000 shares./.
Vietnamplus
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