Both stock indices decline on liquidity problems

The VN-Index lost another 2.33 per cent to finish on Mar. 15 at 468.74 points, as the possibility of higher-than-expected inflation in March weighed on investor psychology.

On the HCM City Stock Exchange, the market value dropped by 13 per cent to VND812.7 billion (US$38.7 million) with just over 37.6 million shares changing hands.

Losers outnumbered gainers by 147-69.

Blue chips continued to slump, with many losing almost 5 per cent of their value – the most they can lose in a single session – including insurer Bao Viet Holdings (BVH), Vien Dong Pharmaceuticals (DVD), property developers Hoang Anh Gia Lai (HAG) and Vincom (VIC), financial Masan Group (MSN) and resort developer Vinpearlland (VPL).

Some went against the trend and posted gains, including Viet Nam-Italy Steel (VIS) up 5 per cent, Tu Liem Urban Development (NTL) 4.3 per cent, industrial Hoa Phat Group (HPG) 2.8 per cent and Vietinbank (CTG) up 1.5 per cent.

CTG also was the most active stock with 2.37 million shares changing hands. It closed at VND27,500 ($1.31).

On the Ha Noi Stock Exchange, the HNX-Index declined 0.96 per cent to close at 91.04 points.

Both trading volume and value decreased around 40 per cent to just 28.5 million shares worth almost VND426 billion ($20.3 million).

Decliners continued to outnumber advancers by 229-60.

Kim Long Securities (KLS) was again the most heavily traded share on the northern bourse with 2.84 million shares exchanged, losing another 3.9 per cent to close at VND9,800 ($0.47).

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