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VN-Index down on rising market value
The VN-Index continued to slide this morning, losing another 1.84 per cent to close at 417.25 points. On the HCM City Stock Exchange, trading value nearly doubled, totalling VND644.4 billion (US$31.3 million) with more than 32 million shares changing hands.
Blue chips tumbled, both financial conglomerates Masan Group (MSN) and PetroVietnam Finance (PVF) dropping to floor prices while property developer Hoang Anh Gia Lai (HAG) and insurer Bao Viet Holdings declined by 3.4 per cent. Steel producer Hoa Phat Group (HPG) and real estate developer Vincom (VIC) also slumped by over 2 per cent each.
Binh Dinh Minerals Company (BMC) managed to hit the daily limit of 5 per cent for three days in a row thanks to high second-quarter business results.
Losers outnumbered gainers by 162-54 overall.
Sacombank (STB) shares were again the most actively traded stock on the southern bourse today with 1.86 million shares changing hands, closing unchanged at VND13,600 ($0.66) a share.
On the Ha Noi Stock Exchange, the HNX-Index gained 0.47 per cent to close today's session at 72.28 points after suffering four consecutive days of loss.
Market value rose by 34.5 per cent to VND251.5 billion ($12.2 million) on a volume of 24.3 million shares.
Market conditions remained relatively neutral with 109 codes rising, 110 declining and 165 closing unchanged.
Kim Long Securities (KLS), with 2.7 million shares traded, was the most heavily traded stock nation-wide, its share value closing unchanged at VND10,400 ($0.50).
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