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Concerns over forex rates depress shares
Current developments on the forex market continued to cause uncertainty among both domestic and foreign investors, driving down two Viet Nam's stock exchanges on Feb. 18, with up to 67 per cent of codes falling on the two bourses.
Domestic gold prices this morning continued to increase to VND37.42 million (US$1,689) per tael while US$1 could buy VND22,150. (One tael is equivalent to 1.2 ounces)
On the HCM City Stock Exchange, the VN-Index fell 1.16 per cent to finish at 503.92 points.
The market value increased slightly VND896.2 billion ($42.7 million) on more than 38.4 million shares exchanged.
Decliners largely outnumbered advancers by 213-37.
Blue chips tumbled. Among the 10 largest capitalised shares, only property developer Vincom Company (VIC) rose 1 per cent and insurer Bao Viet Holdings (BVH) increased 0.5 per cent.
Masan Group (MSN) closed unchanged but others all fell, including software producer FPT Corp (FPT) which dropped to its floor price.
Without unfavourable information Sacombank Securities Company (SBS) extended its floor price to four days.
Sai Gon Securities Inc (SSI) once again was the most active share on the bourse with nearly 2,37 million changing hands, but it also closed down 3.9 per cent to VND27,000 ($1.29) per share.
On the Ha Noi Stock Exchange, the HNX-Index also slid by 1.6 per cent to close at 102.31 points but the market value rose 9 per cent to VND467.5 billion ($22.3 million). The volume of the day's trades also increased 7 per cent to almost 28 million shares.
Losers were nearly four times the number of gainers.
Kim Long Securities (KLS), with 2.59 million shares changing hands, became the most heavily traded stock nationwide. It closed down 2 per cent to VND14,000 ($0.67). – VNS
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