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Home  >  Financial News

Shares retreat despite global gains

The HCM City Stock Exchange's benchmark VN-Index failed to sustain Monday's gains and closed down 0.46 per cent yesterday to 417.73 points.

Nearly half of all listed codes posted losses, although the value of trades rose by 24 per cent over Monday's level to VND443.94 billion (US$21.4 million), with 28.8 million shares changing hands.

Blue chips tumbled, with seven of the 10 leading shares by capitalisation slumping, and only software giant FPT and Phu My Fertilisers (DPM) seeing modest gains.

Becamex Infrastructure Co (IJC) was the most-active share, with 2.1 million traded, but it lost 4.1 per cent to conclude at the session at VND11,600 per share.

The HCM City market performed weakly despite strong global markets in the wake of an apparent resolution of European debt issues, with leaders of the two leading European economies, Germany and France, pledging to bail out struggling banks.

Things were a bit more optimistic on the Ha Noi Stock Exchange, where the HNX-Index closed up 0.67 per cent to 70.93 points despite scant trading. The value of trades inched up only 2 per cent over the previous session to VND252.5 billion ($12.2 billion) on a volume of 25.1 million shares.

"Demand was weak, with buy orders mostly placed below reference prices, while sellers are no longer accepting low prices," said Tan Viet Securities Co analysts.

Sai Gon-Ha Noi Bank (SHB) was the most-active share on the northern bourse, with nearly 2.1 million traded. SHB hit its ceiling price of VND7,900 per share.

Foreign investors were sellers on both bourses, unloading a combined net of VND12 billion ($579,700) worth of shares.

(source: VNS)

Số lượt đọc:  3  -  Cập nhật lần cuối:  12/10/2011 09:42:16 AM
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