Blue chips drag VN-Index down

Stocks quickly lost value in the last minutes of the October 30 afternoon. Blue chips' morning momentum turned heads to close at a loss.

On the HCM Stock Exchange, the benchmark VN-Index closed down 0.35 percent at 589.14 points while the VN30, which tracks the top 30 shares by market value and liquidity, tumbled by 0.14 percent to end at 627.21 points.

The biggest stock in terms of market value was PV Gas (GAS), which slid 1.89 percent amongst other losers like VinGroup (VIC), Saigon Securities Inc (SSI), Ocean Group (OGC), Military Bank (MBB) and Hoang Anh Gia Lai Co (HAG).

Nearly half the codes sank in red across the board.

Liquidity also declined with a market value drop of 10 percent since October 29, reaching nearly 1.6 trillion VND (75.8 million USD).

Property developer An Duong Thao Dien Co (HAR) surprised the market by closing out as the most active code of the day with 8.1 million shares. Its prices climbed 6.54 percent to finish at 11,400 VND a share.

On the Hanoi Stock Exchange, the HNX-Index maintained a modest rise of 0.23 percent to close the session at 86.79 points.

Liquidity remained a major concern for investors who marked its low levels in recent days – only 50 million shares worth 705 billion VND (33.4 million USD) traded.-VNA

Source: Vietnamplus

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