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Stock indices continue to fall on sluggish trading
Both Viet Nam's stock indices fell Friday morning on further declining market values and volumes.
The benchmark VN-Index on the HCM City bourse lost another 0.66 per cent to close today at 405.70 points. Market value dropped 11 per cent from yesterday to just VND370 billion (US$20.2 million) on trades of 18.9 million shares.
Losers outnumbered gainers by 131-84.
Blue chips recently releasing positive first-half corporate managed gains this morning, including Phu My Fertiliser (DPM) and steelmaker Hoa Phat Group (HPG) rising over 2 per cent, and software producer FPT (FPT), Vietinbank (CTG) and dairy producer Vinamilk (VNM) all increasing less than 1 per cent.
Some declined, however, dragging the Index down. Property developers Hoang Anh Gia Lai (HAG) and Vincom (VIC) declined around 4 per cent, financial conglomerate Masan Group (MSN) decreased 0.5 per cent, and Vietcombank (VCB) lost 0.7 per cent.
Sacombank (STB) and FPT Corp (FPT) were the most active stocks with each code seeing over 1 million shares changing hands.
On the Ha Noi Stock Exchange, the HNX-Index fell 0.57 per cent to close at 69.55 points.
Trading value remained sluggish with just 22 million shares worth VND235.7 billion ($11.4 million) changing hands.
Decliners overshadowed advancers by 175-66, with Kim Long Securities (KLS) again the most active stock nationwide, on a volume of 1.96 million shares KLS closed down 1.9 per cent at VND10,400 ($0.50).
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