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Property stocks send index down
Heavy sales of property stocks forced the VN-Index in HCM City down a further 2.21 per cent to close at 444.85 points.
There were 178 losers compared to 51 gainers, with 60 closing unchanged. Property stocks made the heaviest losses, with Tan Tao Industrial Park (ITA) down 4.3 per cent to VND11,100, Vincom (VIC) down 4.4 per cent to VND108,000, Hoang Anh Gia Lai (HAG) down 4.9 per cent to VND35,000 and Kinh Bac Corporation (KBC) down 4.9 per cent to VND21,400.
Other influential stocks on the VN-Index also lost ground. Masan Group (MSN) dropped to its floor price at VND102,000 and insurer Bao Viet Holdings (BVH) also had a bad day, closing at VND81,500.
After three days of gains, Vietcombank (VCB) fell 1.9 per cent to VND31,300 following rumours of a 1.6 billion-share-listing plan.
Trading was slow with just 25.5 million shares changing hands, valued at VND492.3 billion ($23.4 million). Eximbank (EIB) was the most active stock with nearly 1.1 million shares traded, closing unchanged at VND15,000.
In Ha Noi, the HNX-Index fell for the ninth consecutive day to finish down 0.79 per cent at 78.24 points.
Volume totalled 23.2 million shares worth VND284.3 billion ($13.5 million). Losers outnumbered gainers by 176:82. VNDirect Securities was the prime mover with a volume of 1.7 million shares changing hands.
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