Wednesday, December 13 2017

VietNamNews

Falling shares defy investor optimism

Update: December, 20/2014 - 09:50
Investors watch market developments at VNDRECT Securities. — VNS Photo Viet Thanh
HA NOI (VNS)— It was expected that shares would continue to rally following Thursday's gains, along with the overnight rise of global oil prices and important indexes, but the reverse has occurred.

Trading at the end of the session disappointed investors, as a large number of shares were sold.

In fact, nearly 300 listed codes decreased, while only 90 codes increased in value. In terms of sectors, almost all tumbled, except for information technology, communications and minerals. The fastest declining sectors included real estate, banking and securities.

The most heavily traded stocks were Sacombank (STB), Saigon Securites (SSI), property developer FLC Group (FLC) and retailer KLF (KLF), each seeing 15 to 29 million shares changing hands.

Meanwhile, others stocks managed to add value, such as construction firm Becamex (IJC), food processor Hung Vuong (HVG) and subsidiaries of oil and gas giant PetroVietnam.

Meanwhile, on the HCM City Stock Exchange yesterday the VN-Index closed down 1 per cent to 523.09 points.

Also, trading values soared from VND2 trillion (US$93.9 million) on Thursday to almost VND3.7 trillion ($173.7 million) as 180.8 million shares were exchanged.

The VN30 Index declined to 570.61 points, losing 1.43 per cent, as 23 out of 30 blue chips tracked by the index tumbled.

Additionally, financial group Bao Viet (BVH), Vinh Son – Song Hinh Hydropower (VSH) and Vietcombank (VCB) bottomed out, while Saigon Securities (SSI), Ocean Group (OGC), Eximbank (EIB) and Da Nang Rubber (DRC) also fell rapidly.

On the Ha Noi Stock Exchange, the HNX-Index dropped 1.67 per cent to 81.32 points.

The total transaction value and volume reached VND810.5 billion ($38 million) and 65.8 million shares, respectively.

Also, the HNX30 Index declined by a higher rate – 2.55 per cent – to 157.52 points, while foreign investors strongly extended their net selling value to VND286.4 billion ($13.45 million) yesterday. — VNS


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