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Rapid declines of blue chips drag down indices

Update: February, 10/2015 - 09:12
The VN-Index on the exchange edged down 0.1 per cent to reach 573.55 points. Losers outnumbered gainers by 132 to 79. — File Photo
HA NOI (VNS)  — Shares lost ground yesterday, despite gains in the morning on the HCM City Stock Exchange.

The VN-Index on the exchange edged down 0.1 per cent to reach 573.55 points. Losers outnumbered gainers by 132 to 79.

Trading value was low, reaching only VND1.23 trillion (US$57.7 million) on a volume of 71.3 million shares.

Tracking the performance of the bourse's 30 leading blue chips, the VN30 Index also slid 0.15 per cent to stand at 594.77 points. Only eight codes rallied, while 16 tumbled. Steelmaker Hoa Phat (HPG) retreated fastest among the blue chips, dropping 2.6 per cent. Meanwhile, realty stock FLC was the most active listed code, seeing nearly 8.4 million shares change hands.

PetroVietnam Gas (GAS), the most influential stock in the southern market with a market cap of VND149.7 trillion ($7 billion), lost 0.6 per cent, contributing greatly to the slump of the benchmark index.

The company yesterday announced revenue of over VND73.5 trillion ($3.45 million) and a gross profit of nearly VND18 trillion ($845 million) in 2014, rising 18 and 70 per cent over 2013 respectively. This year, the gas giant aims to reach VND69.54 trillion ($3.26 billion) in revenue and VND14.16 trillion ($664.8 million) in gross profit. Also, the company plans to raise its charter capital to VND28.6 trillion ($1.34 million).

The GAS price is expected to spring back after this information.

On the Ha Noi Stock Exchange, the benchmark HNX-Index finished the session at 83.33 points, falling 0.65 per cent.

The HNX30 Index, representing the top 30 large-cap and high-liquidity stocks, also tumbled 0.78 per cent, reaching 161.19 points.

Trading value and volume on the exchange reached VND456.35 billion and 40.7 million shares respectively.

Foreign investors were net buyers in Ha Noi by a margin of VND17.3 billion ($812,200), while their buying and selling activities were balanced in HCM City. Their transactions mainly occurred during the ATC (at-the-closing) session, favouring FLC with 2.36 million units traded and food processor Bourbon Tay Ninh (SBT) with 2.07 million units traded. — VNS

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