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VietNamNews

Index slides despite growth in oil, gas

Update: September, 17/2014 - 09:13
On the Ha Noi Stock Exchange, the HNX-Index managed to close in the green with an increase of 0.83 per cent at 90.15 points. — Photo tinnhanhchungkhoan

HA NOI (VNS) — Stocks extended losses yesterday on the HCM Stock Exchange, driven by blue chips.

Major large-cap shares such as Bao Viet Holdings (BVH), PV Gas (GAS) and Vietcombank (VCB) lost value, pushing the benchmark VN-Index down 0.43 per cent to close the session at 627.66 points.

With half of the member stocks declining, the VN30, which tracks the top 30 shares by market value and liquidity, also slipped 0.26 per cent to end at 666.66 points.

However, continuous growth of oil and gas-related companies cushioned the market. Shares such as PetroVietnam Transportation Corp (PVT), Petroleum Pipeline and Tank Construction Co (PVX), Petroleum Equipment Assembly & Metal Structure Co (PXS) and Petroleum Industrial & Civil Construction Co (PXI) all hit their ceiling prices yesterday.

Liquidity decreased slightly with market volume down 15 per cent from the previous session, totaling nearly 181 million shares, while the value of trades fell 20 per cent to VND3.23 trillion (US$153 million).

FLC Group (FLC) steadily led the market in terms of volume with 36 million shares traded, but its price sank 3.3 per cent to end at VND11,900 per share.

On the Ha Noi Stock Exchange, the HNX-Index managed to close in the green with an increase of 0.83 per cent at 90.15 points.

However, liquidity also declined as trading volume fell 25 per cent from Monday, reaching 91 million shares worth nearly VND1.3 trillion ($61.6 million).

PetroVietnam Construction Corporation (PVX) was again the most active stock on the northern bourse with 8.8 million shares traded, climbing 1.6 per cent to finish at VND6,400 a share.

Foreign investors suddenly turned to sell shares yesterday, unloading over VND302 billion ($14.3 million) worth of shares on the two exchanges. — VNS

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