Shares decline on low trading volumes

The VN-Index retreated 0.92 per cent on Feb. 16 to close the day's trades at 513.11 points, reversing the moderate gain on Feb. 15 on the HCM City Stock Exchange.

Trading volume also fell 12.5 per cent from yesterday to just 30 million shares worth over VND748.5 billion (US$35.6 million).

Losers outnumbered gainers 3 to 1, with most blue-chips posting losses.

Of the 10 largest capitalised shares, only conglomerate Masan Group (MSN) rose (0.6 per cent). Others who gained yesterday declined today, including PetroVietnam Finance (PVF) which fell from its ceiling.

Vietinbank (CTG) declined 3.1 per cent; Hoang Anh Gia Lai Group (HAG) declined 2.7 per cent. Phu My Fertiliser (DPM) was down 1.8 per cent and Eximbank (EIB) 0.7 per cent.

Saigon Securities Inc (SSI) became the most active share on the bourse, with nearly 1.8 million shares changing hands, but it closed down 2.1 per cent to VND28,600 ($1.36).

On the Ha Noi Stock Exchange, the HNX-Index also dropped (more than 1 per cent) to close at 105.49.

The market value fell 18 per cent to just VND371.2 billion ($17.7 million) on nearly 20 million shares exchanged

Decliners outnumbered gainers by 189-93.

Kim Long Securities (KLS) was the most heavily traded share on the Ha Noi market with 1.4 million exchanged. It finished unchanged at VND15,000 ($0.71).

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