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VietNamNews

Shares slide with sentiment

Update: December, 08/2012 - 09:43

 

Investors monitor shares at An Binh Securities in HCM City. Stocks sank into the red during yesterday's session, despite speculative buying. — VNA/VNS Photo Hoang Hai
HA NOI (VNS)- Stocks sank into the red during yesterday's session, despite speculative buying.

Most codes with good liquidity on both of the nation's stock exchanges were traded around their reference prices.

Selling pressure at high share prices was the major barrier to the recovery of the market, said Bao Viet Securities Co analyst Nguyen Xuan Binh.

"This factor will also prevent the HNX-Index breaking the important resistance level of 52.8 points," he added.

"Investors can still buy shares at a reasonable price," he advocated.

Meanwhile, the rally would highly possibly fail if the HNX-Index dropped to 51.40 points.

On the HCM City Stock Exchange yesterday, the VN-Index lost 0.49 per cent to close at 383.80 points.

The total market value reached only 57.6 per cent of Thursday, standing at VND390.9 billion (US$18.6 million), as trading volume declined to 33.5 million shares.

Blue chips dragged the VN30, representing the southern city's top shares, down 0.42 per cent to 449.81 points.

The performance of these 30 stocks already accounted for more than 60 per cent of the southern stock exchange's trading value, reflecting their significant influence on the HCM City market.

On the Ha Noi Stock Exchange, the HNX-Index ended at 51.66 points, 0.23 per cent lower than the previous day's close.

Trading value, however, rose slightly to VND157.3 billion ($7.4 million) as investors started to sell off shares. Trading volume reached 29.2 million shares.

The HNX30, tracking the northern exchange's leading shares in terms of capitalisation and liquidity, also shed 0.26 per cent to finish at 94.23 points. — VNS

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