Gold Declines, Stock and Dollar Rise

The Ho Chi Minh City market experienced a slight fall in domestic gold prices Friday while the VN-Index and dollar both soared.

The VN-Index reversed course and rose 5.45 points to close at 444.28. Some 14.53 million shares changed hand, worth VND524.78 billion (US$31.44 million)

The HCM Stock Exchange also saw a lot of sell orders of three big caps, Sacombank (STB), Phu My Fertilizer and Chemicals (DPM) and Saigon Securities (SSI) being listed in the bourse.

However, the buy orders were much fewer than sell orders.

In particular, 1.2 million DPM shares were offered to sell at today’s session; however, only 400 found new owners.

There were a vast number of sell orders today because investors were afraid that the bourse might reverse course again to turn bad. 

By closing time, there were about 100 gainers with 75 of them increasing limit up.

The domestic gold price after enjoying a slight increase to VND18 million (US$1,078) per tael Thursday suddenly dropped down today to VND17.71 million per tael (US$1,061), down VND290,000 (US$17.38).

Despite the downtrend of US dollar on the world market, its price still increased lightly on the domestic market. The selling price was VND16,690 today, an increase of VND80 compared to yesterday. The buying price still remained unchanged at VND16,500.

Source: Tuoi Tre Newspaper, SGGP – Translated by Minh Anh

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