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VietNamNews

Syria rattles Viet Nam markets

Update: August, 29/2013 - 10:25
Both Vietnamese stock exchanges tumbled yesterday following shaky performance in global markets.—Photo stox

HA NOI (VNS)— Both Vietnamese stock exchanges tumbled yesterday following shaky performance in global markets.

Global investors are rattled by the prospect of the US and allies attacking Syria for its deadly chemical weapon attacks on its people. Investors in Viet Nam also unloaded shares across the boards to avert risks.

On the HCM City Stock Exchange, the VN-Index lost more than 12 points, or 2.53 per cent, to close yesterday's session at 473.30 points.

A heavy slump in blue chip stocks dragged the market down.

None of the markets flagship 30 stocks advanced with 29 losing ground. Bao Viet Holdings (BVH) shed 6.3 per cent; Vinamilk (VNM) lost 4.3 per cent; PV Gas (GAS) fell 3 per cent; and Masan Group (MSN) reduced 1.2 per cent.

The VN30 dropped 2.14 per cent to 528.62 points.

However, trading improved as low valuations drew risk-neutral investors. Nearly 69.3 million shares worth VND1.275 billion (US$60.7 million) were traded by the end of the session, more than doubling Tuesday's levels.

FLC Group (FLC) was still the most active code with 4 million shares traded after falling 2 per cent to VND4,900 each.

On the Ha Noi Stock Exchange, the HNX-Index also gave up 1.18 per cent to finish the session at 60.68 points.

Bottom-fishing activities on the northern bourse also pushed up trades here. The market volume doubled over the previous day to reach 23.4 million shares worth VND206.5 billion ($9.8 million).

Sai Gon-Ha Noi Bank (SHB) led the northern market with trades of 3.7 million shares, dipping 1.5 per cent to end at VND6,400 each.

The foreign sector increased their selling in Viet Nam. They concluded as net sellers on both exchanges, unloading combined shares worth over VND70 billion ($3.3 million). — VNS

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