Friday, June 22 2018


Blue chip falls way on Index

Update: June, 05/2012 - 09:18


Investors follow a trading session at ACB Secur-ities in Ha Noi.Recent positive signals from the central bank failed to boost investor sentiment yesterday — VNS Photo Viet Thanh
HA NOI — Stock continued to slide yesterday as two third of shares lost value across the two bourses, led by blue chips.

Recent positive signals from the central bank failed to boost investor sentiment yesterday. The central bank late last week further cut the key interest rates by 1 per cent and the cap on the deposit rate is expected to reduce by another 2 per cent to 9 per cent per year in the near future. Besides, it plans to establish an assets trading company responsible for a total debt worth VND100 trillion ($4.76 billion), equal to total bad debts of the banking system by the end of April.

"The Government's monetary policies were on the right track," analysts of Sai Gon-Ha Noi Securities Co commented in a research note but they also said investors now seemed to be more cautious and wanted wait for specific economic improvements.

On the HCM City Stock Exchange, the VN-Index gave up over 12 points to close yesterday at 416.65 points, down 2.83 per cent from Friday's value, the lowest since February 22.

Losers overwhelmed gainers by 237-29, with half of the losers bottomed out.

The VN30 Index, which measures performance of the top 30 shares by market value and liquidity also decreased 2.8 per cent to 492.89 pints, as all of the 30 codes sank, of which 12 shares plunged to the floor prices including the largest share Vietcombank (VCB).

Value of trades jumped 84 per cent over Friday to more than VND2.44 trillion (US$116.2 million), while the trading volume doubled to 143.3 million shares. However, negotiated trades accounted for half of the total, led by Eximbank (EIB) with 60 million shares traded, worth VND1 trillion ($47.6 million) and Sacombank (STB) with 16 million shares traded worth VND400 billion ($19 million).

STB lost 2 per cent to close yesterday at VND24,900 ($1.19) a share while EIB fell 1.1 per cent to a close of VND17,700 ($0.84) each.

Trades on these two shares at this time were mainly done by domestic investors. Rumours around the takeover between the two banks closed with two members of Eximbank gaining two seats in the Sacombank's boardroom.

On the Ha Noi Stock Exchange, the HNX-Index finished yesterday's session down 2.49 per cent at 72.51 points on a turnover of VND419.7 billion ($20 million) as decliners outnumbered advancers by four-to-one.

Kim Long Securities Co (KLS) was the most active code on the Ha Noi bourse with 4 million shares changing hands, slipping 4.76 per cent to a close of VND10,000 a share.

Foreign investors concluded yesterday as net sellers on both exchanges, unloading shares worth a combined VND134 billion ($6.4 million). — VNS

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