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VietNamNews

Market slumps as large-caps decline

Update: April, 07/2015 - 08:53
Transactions tracked at the Bao Viet Securities Company in Ha Noi. — VNS Photo Truong Vi
HA NOI (VNS)  — The national stock market fell yesterday, with low liquidity among the largest stocks unable to boost the market.

On the HCM City Stock Exchange, the VN30, tracking the top 30 shares by market value and liquidity, was down 0.86 per cent and ended at 572.71 points. Declining codes heavily outnumbered advancing ones by 22 to two, while six others remained unchanged.

Only two improving codes, Hung Vuong Group (HVG) and Refrigeration Electrical Engineering Corporation (REE), improved their market values by 0.5 and 0.39 per cent, respectively.

As a result, the VN-Index edged down 0.89 per cent to close at 542.97 points as the decliners strongly edged out the advancers by 132 to 85, while 74 other stocks remained flat.

Purchasing power was weak, however, and finished 1.67 per cent higher than last Friday's figure, totalling nearly 72 million shares. The market's trading value rose sharply by 49.3 per cent to reach VND1.56 trillion (US$74.4 million).

FLC Group (FLC) remained the most active code with 5.3 million shares being traded, a decrease of 58 per cent, compared with last Friday's figure. Its price per share dropped by 2.83 per cent to VND10,300.

Ocean Group JSC (OGC) decreased its market value by 4 per cent to end at VND4,700 per share after Ocean Bank, an OGC subsidiary announced the third Board of Directors' President since last October.

The Ma San Group (MSN) recorded a total trading value of VND480 billion ($22.8 million) yesterday through negotiations at VND74,500 per share, indicating a drop of 0.67 per cent.

On the Ha Noi Stock Exchange, the HNX-Index fell by 0.33 per cent to close at 81.66 points after having seen a slight recovery in the morning.

The market traded a total of 30.8 million shares, worth VND437 billion ($20.8 million), showing an increase of 2.6 per cent in trading volume and 14.2 per cent in trading value over last Friday. The number of declining codes outnumbered the advancing ones by 106 to 79, while 180 others stayed flat.

Petroleum Technical Services Corporation (PVS) was the most active code, with a trading volume of 3.5 million shares at a price of VND22,600 per share, reflecting a decrease of 0.88 per cent.

On the northern market, Song Da Investment-Development JSC (SIC) was the top gainer, rising 10 per cent in market value to end at VND12,100 per share.

However, foreign investors remained net buyers, decreasing their purchases in the HCM City market by 24 per cent to a net buy value of VND41.2 billion ($1.96 million). In the Ha Noi market, they closed as net buyers, with a net buy value of VND14.8 billion ($705,000), translating into an increase of 56 per cent. — VNS

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