|
Blue chips stave off market dive
A rebound in blue chips in the final minutes of Thursday's session on the HCM City Stock Exchange helped saved the market from a steeper decline and allowed the VN-Index to close off just 0.69 per cent to 450.77 points – after falling to as low as 447 earier in the day.
Transactions were sluggish throughout most of the session, while decliners outnumbered advancers overall by 184-36.
Ocean Group (OGC) was again the most-active share, with almost 4 million sold. However, the shares plunged by 4.46 per cent to end the day at a price of VND34,200 ($1.75) per share.
On the Ha Noi Stock Exchange, the HNX-Index declined by a more dramatic 1.29 per cent yesterday, closing at 129.83 points. However, volume rose by 41 per cent over the previous day's session to 36.7 million shares, worth VND879.6 billion ($45.1 million).
PetroVietnam Construction (PVX) continued to be the most heavily-traded share nationwide, with almost 4.4 million changing hands, but PVX closed off by over 2.9 per cent to a price of VND23,200 ($1.19) per share.
HCM City Securities Co analysts wrote yesterday that investors were still awaiting September inflations figures as well as the results of the State Bank of Viet Nam's review of its Circular No.13, which would impose stricter risk management requirements on commercial banks.
Until investors received more data, they suggested, the market would continue to tread water.
Vu Thanh Tung, who represents a Korean investment fund in Ha Noi, agreed that investors were looking for clearer signs of economic trends in the final quarter of the year, particularly regarding inflation, interest rates and foreign exchange rates, before making investment decisions.
vietnamnews
|
