VN-Index drops back on quiet trading

The VN-Index on October 15 continued to slide for a fourth straight day, losing another 0.25 percent to close at 604.29 points and weighed down by major large-cap stocks.

On the Hochiminh Stock Exchange, blue chips were mixed as bank shares like Vietinbank (CTG), Military Bank (MBB), Vietcombank (VCB) and property developer Hoang Anh Gia Lai Co (HAG) climbed in the afternoon but PV Gas (GAS), Vinamilk (VNM), Bao Viet Holdings (BVH) and Hoa Phat Group (HPG) lost value.

The VN30, which tracks the 30 shares with the largest market value and liquidity, inched up 0.08 percent to end at 651.57 points.

According to analysts, a lot of investors preferred waiting for clearer earnings prospects to make investment decisions.

Meanwhile, many investors started to bargain shares, pushing up both market volume and value by 10 percent, totaling more than 124 million shares worth nearly 2.3 trillion VND (109 million USD).

Realty stocks were the most active codes October 15, led by FLC Group (FLC) with 9.2 million shares. Kinh Bac City Development (KBC) came second with trades totalling 6.8 million shares, followed by Tan Tao Investment Industry Corp (ITA) with 5.5 million shares.

By contrast, the HNX-Index on the Hanoi Stock Exchange managed a tiny gain of 0.05 percent to finish at 89.57 points, despite sinking into the red for most of trading time, thanks to a late-day rally for blue chips.

The HNX30, tracking the top 30 shares on the northern bourse, increased 0.17 percent to stand at 180.66 points.

Liquidity remained modest with 63.7 million shares worth almost 900 billion VND (42.7 million USD) traded by the end of the session.

PetroVietnam Construction Corporation (PVX), the most active code, saw 8.8 million shares exchanged, but the share price slipped 1.5 percent to end at 6,400 VND per share.

Foreign investors continued to unload shares on the two markets, responsible for a combined net sell value of 124.3 billion VND (6 million USD).-VNA

Source: Vietnamplus

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