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Shares stall on sluggish trade

Update: June, 12/2012 - 09:23

HA NOI — Shares on the HCM City Stock Exchange fluctuated during yesterday's session before closing nearly unchanged at 432.50 points. Advancers, however, outnumbered decliners by a more clear-cut margin of 136-85.

The value of trades totalled VND1.18 trillion (US$56 million), slightly below last Friday's level, on a volume of over 68 million shares.

Meanwhile, the VN30 Index, tracking the exchange's 30 leading stocks, advanced by nearly 0.4 per cent to 509.99 points. Of the shares tracked by the index, three hit their ceiling prices, including HCM City Infrastructure Investment Co (CII), Vietinbank (CTG) and financial conglomerate Ocean Group (OGC).

Seven of the shares in this group lost 0.3-1.8 per cent of their value, including Sacombank (STB), Vietcombank (VCB) and insurer Bao Viet Holdings (BVH). Along with Vietcombank, the leading share on the market by capitalisation, runner-up PetroVietnam Gas (GAS) also dropped 1.9 per cent.

During yesterday's trading, the market witnessed some minutes of high investment, but demand overall failed to keep pace, Hoa Binh Securities Co analyst Vu Thai Ha wrote in a note.

"The short-term uptrend of the market is still being challenged," Ha said, suggesting investors could buy shares but limit their investment and pick wisely.

On the Ha Noi Stock Exchange yesterday, the HNX-Index reversed last Friday's losses to add nearly a per cent to its value, concluding the session at 75.80 points. Value reached VND629.4 billion ($29.9 million), a decline of 9.2 per cent from Friday, as volume reached around 60.4 million shares.

PetroVietnam Construction Co (PVX) was the most-active share with 15.8 million shares changing hands. It rose nearly 5 per cent to close at VND10,800 per share.

Foreign investors concluded the day as net buyers in Ha Noi by a margin of VND14.5 billion ($690,400) but were sellers in HCM City, unloading shares worth a net of VND111 billion ($5.2 million). — VNS

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