The VN-Index declined yesterday by another 0.13 per cent from last Friday's session, closing at 379.14 points – the lowest level in the past 30 months – as investors on the HCM Stock Exchange continued to sell shares on fears of a futher slump.
The value of trades declined by nearly 38 per cent from the previous session, totalling just VND326.7 billion (US$15.3 million) on a volume of 21.2 million shares.
The day's overall loss was despite gains by several blue chips, including dairy producer Vinamilk (VNM), Sacombank (STB) and Military Bank (MBB). VNM hit its ceiling price after the company said it would offer bonus shares at a ratio of 50 per cent on November 29. STB, the most-active code with 2.3 million shares traded, rose 4.1 per cent on information that it would buy back 100 million shares. MBB also increased 3.3 per cent after releasing news of a 12 percent dividend.
Insurer Bao Viet Holdings (BVH) bottomed out, while shares of food processor Masan Group (MSN) and real estate developer Vincom (VIC) both declined by around 1 per cent, weighing on the VN-Index.
On the Ha Noi Stock Exchange, the HNX-Index tumbled by 0.8 per cent to a new record low of 61.68 points. Trading was sluggish, declining by 27 per cent to just 18.2 million shares, while the value of trades fell by 28 per cent to just VND162.7 billion ($7.6 million). Advancers outnumbered decliners by 156-62.
Maritime Bank Securities Co analysts said in a note that the stock market was still in a downward trend due to a lack of supporting news and shrinking capital flows into the market.
Inflation continued tobe moderate in the nation's two leading cities, according to information released yesterday, but this was not expected to have much impact on investor psychology. Consumer prices posted a one-month rise of 0.29 per cent in Ha Noi and 0.28 per cent in HCM City.
Ongoing net sales by foreign investors also helpe erode local investor confidence, the analysts said, noting that foreign investors yesterday unloaded a combined VND24.6 billion ($1.2 million) worth of shares on both exchanges.
(source: VNS)
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22/11/2011 09:56:37 AM | 