Shares managed to rise during the first few minutes of yesterday’s session on the HCM Stock Exchange before sinking back into the red.
The benchmark VN-Index closed at 381.63 points, a decline of 1.44 per cent from the previous day. A heavy sell-off of shares lifted the value of trades by 54.8 per cent over Wednesday’s session to VNÑ629.5 billion (US$29.6 million). Volume was 41.7 million shares, a 34.5-per-cent increase. Decliners outnumbered advancers by a margin of 143 to 85.
Eximbank (EIB) and Sacombank (STB) were the only blue chips to perform well, gaining 1.6 and 0.7 per cent, respectively, while other large-cap shares retreated or closed unchanged.
Real estate and construction shares, in particular, suffered from sell pressures, with Vincom (VIC), Khang Ñieàn House Trading and Investment (KDH), Kinh Baéc City Development (KBC), House Vieät Nam (NVN), Licogi (LCG), Quoác Cöôøng Gia Lai (QCG) and Idico-Petroleum Construction (PXL) all bottoming out despite a Government instruction issued yesterday intended to reinforce management on the real estate market.
In the instruction, the Prime Minister assigned the State Bank of Vieät Nam to ensure financing were available for projects capable of making a return on investment capital within the coming year, especially housing targeted to low-income earners. The bank was also ordered to co-ordinate with the Ministry of Construction to guide banks in implementing consitent credit policies with the aim of restructuring the property market.
On the Haø Noäi Stock Exchange yesterday, the HNX-Index responded with a slight increase of 0.13 per cent, closing at 62.59 points. Trading value declined to just VNÑ238.5 billion ($11.2 million), or 2.7 per cent lower than Wednesday’s level, while volume reached only 25.3 million shares.
Losers once again outnumbered gainers by 139 to 72.
Kim Long Securities Co (KLS) was the most-active share nationwide, with around 3.4 million traded before it closed down by 1.9 per cent to VNÑ10,400 per share.
Foreign investors were net sellers on both bourses yesterday by a combined net margin of VNÑ58 billion ($2.7 million).
(source: VNS)
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09/12/2011 01:57:08 PM | 