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Indices slump on blue chip fall
Shares fell on the HCM Stock Exchange this morning, led by slumps of major stocks, with the VN-Index losing 1.58 per cent to close today's session at 454.37 points.
Large caps, which have a strong influence on the Index, and include insurer Bao Viet Holdings (BVH), food producer Masan Group (MSN) and PetroVietnam Finance (PVF) all dropped 4.5 per cent; while steelmaker Hoa Phat Group (HPG) and software producer FPT (FPT) both lost around 2 per cent.
A 4-per cent rise in property developer Vincom (VIC) cushioned the Index's fall. Phu My Fertiliser (DPM) and dairy giant Vinamilk (VNM) increased by just under 1 per cent.
In HCM City, the value of today's trades declined 35 per cent to just VND886.7 billion (US$42.6 million), with 46 million shares changing hands.
Losers outnumbered gainers by 193 to 55.
Becamex Infrastructure Development (IJC) was again the most active stock on the southern bourse with 2.2 million shares traded, though it closed 3.6 per cent lower at VND10,800 ($0.52) a share.
In Ha Noi, the HNX-Index slid 2.14 per cent to finish today at 74.38 points, with decliners nearly tripling advancers.
The market value rose nearly 12 per cent, however, to nearly VND489.7 billion ($23.5 million) on a total volume of 42.4 million shares.
Kim Long Securities Company (KLS) was the most heavily traded stock nationwide today with 3.27 million shares changing hands. However, it lost 0.8 per cent to close at VND12,400 ($0.60).
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