Wednesday, October 18 2017

VietNamNews

Trading volumes slow to a crawl

Update: September, 25/2012 - 09:10

HA NOI – (VNS) Share price movements were mixed on the two national stock exchanges yesterday but ebbing values on both bourses are now the biggest concern for investors.

On the HCM City Stock Exchange, the VN-Index recouped 0.36 per cent from Monday's loss boosted by large-cap stocks, closing yesterday's session at 391.77 points.

Nearly half of the top 30 shares by market capitalisation and liquidity posted gains, led by dairy giant Vinamilk (VNM) and PetroVietnam Gas (GAS) who both increased by 2.7 per cent and property developer VinGroup (VIC) which rose 1.3 per cent.

Eximbank (EIB) was also up more than 2 per cent, ending yesterday's session at VND14,800 (US$0.70) a share. With over 2 million shares traded, it was also the most active code on the southern bourse.

Overall trading was still sluggish though, with just 23.5 million shares, worth VND442.6 billion (US$21.1 million), changing hands.

On the Ha Noi Stock Exchange, the HNX-Index fell by another 0.43 per cent to 56.22 points with a turnover of just VND137.6 billion ($6.6 million).

Fallers edged risers by 106-69.

PetroVietnam Construction (PVX) was still the most active share with over 2.7 million shares exchanged, but lost another 2.2 per cent to close at VND4,500 a share.

According to Nguyen Xuan Binh, an analyst at Bao Viet Securities Co, the news that inflation rose by 2.2 per cent in September was remarkable.

He said the increase of basic commodities such as petrol and gas, combined with the current upward trend of inflation, left many unsure whether the government will be able to keep this year's inflation below 7 per cent.

"Investors are still very cautious and market trends remain unclear," analysts at FPT Securities Co said in a report yesterday, noting the market would continue to be dragged down by weak cash inflows.

Foreign investors also unloaded shares on both exchanges yesterday, responsible for a combined net sale of more than VND58 billion ($2.8 million) worth of shares. — VNS

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