HA NOI (VNS)– Stocks opened the new trading week down yesterday, with both bourses losing value following a lack of positive data.
|Investors follow a trading session at SSI Securities in Ha Noi. The VN-Index edged down 0.62 per cent to close yesterday's session at 383.32 points but trading value rose 25.5 per cent over Friday to VND378.3 billion (US$18.1 million) on a total volume of over 22.5 million shares. — VNS Photo Viet Thanh
Most businesses have already announced their third-quarter results, and so there was little news to rally the market during coming weeks, according to analysts from Bao Viet Securities Co.
"The market may become more active at the end of this month or early next month when ETFs (exchange traded funds) announce the make-up of stocks in their portfolios. In the short-term, the market could probably trade around the current balancing point," they wrote in the latest report.
The benchmark VN-Index edged down 0.62 per cent to close yesterday's session at 383.32 points but trading value rose 25.5 per cent over Friday to VND378.3 billion (US$18.1 million) on a total volume of over 22.5 million shares.
Blue chips led the market downturn as two thirds of the top 30 shares on the southern bourse tumbled, driving the VN30 down 0.73 per cent to 452.36 points.
Software giant FPT Corp (FPT), Military Bank (MBB), Vietcombank (VCB), property developer Hoang Anh Gia Lai (HAG) and PetroVietnam Finance (PVF) declined from 1.2-2.4 per cent.
MBB with nearly 1.77 million shares changing hand was still the most active code by the end of yesterday's session but the share fell harder during the afternoon with a loss of 2.4 per cent to VND12,000 a share ($0.57).
On the Ha Noi Stock Exchange, the HNX-Index closed 0.69 per cent off at 51.45 points on a low value of just VND140.46 billion ($6.7 million).
With a whopping volume of nearly 5.8 million shares exchanged, real estate arm of Sacombank, Sacomreal (SCR), became the most active code. The shares rose 4.8 per cent to VND4,400 a share.
Foreign investors also unloaded shares yesterday, responsible for a combined net sell of almost VND24 billion ($1.15 million) worth of shares. — VNS