ATC session selling spurs decline on both indices

Update: September, 25/2014 - 09:37
Investors trace market fluctuations at Bao Viet Securities's stock trading floor in Ha Noi. — VNS Photo Viet Thanh
HA NOI  (VNS) — Shares fell yesterday on both national stock exchanges.

On the HCM City Stock Exchange, the VN-Index lost 1.1 per cent to 603.59 points.

As 132.7 million shares were traded, the value of transactions reached VND2.87 trillion (US$135.3 million).

Among the 30 blue chips tracked by the VN30 Index, largest stocks tumbled, including insurer Bao Viet (BVH), Vinamilk (VNM) and property giant Vingroup (VIC).

Several others lost ground rapidly, such as Pha Lai Thermalpower (PPC), which declined 5 per cent, PetroVietnam Drilling Services (PVD), down by 2 per cent, and Sai Gon Securities (SSI), down 3 per cent.

The VN30 retreated 0.48 per cent to 655.14 points.

On the Ha Noi Stock Exchange, the HNX-Index also shed 0.05 per cent to 87.71 points on a total turnover of around VND1 trillion ($47.1 million).

The HNX30 Index, tracking the 30 leading shares in capitalisation and liquidity, closed flat, losing 0.01 point to reach 179.57 points.

Sell-off during at-the-closing (ATC) session has existed for several days. Most of yesterday's decline was caused by ATC trading, especially on large-cap stocks.

However, some stocks managed to get out of the spiral, mainly mineral and transportation firms. Hamico Mineral (KSH), Binh Thuan Mineral (KSA), Viet Nam Sea Transport and Chartering (VST), and Vinalink International Freight Forwarders (VNL) ended yesterday at their ceiling prices.

Foreign investors also took a part in driving the market down. They were net sellers in HCM City by a margin of VND65.2 billion ($3 million). Meanwhile, they were net buyers in Ha Noi by a modest net of VND5.5 billion ($259,400). — VNS