Thang Long - Hanoi

Investors caught in bull trap
28/07/2012 | 15:39:20
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Shares finally lost value on July 27 after posting gains earlier in the morning.

On the HCM Stock Exchange, the VN-Index finished at 413.16 points, a 0.4 percent decrease compared to the previous day's close.

More than half of all listed shares were decliners.

Trading value, however, jumped 49 percent over the previous session to 620.2 billion VND (29.5 million USD) on a volume of 38.3 million shares.

The VN30, which tracks the southern bourse's 30 leading shares in terms of capitalisation and liquidity, edged down 0.24 percent to 489.61 points. This was caused by the fall of 16 blue chips.

Meanwhile, on the Hanoi Stock Exchange, the HNX-Index lost steeply – more than one percent – to close at 69.35 points.

Losers overwhelmed gainers by 145-69.

The value and volume of trades remained similar to July 26 level at 369.9 billion VND (17.6 million USD) and 40.77 million shares.

The HNX30, composed of 30 top shares in Hanoi , retreated nearly 1.5 percent to reach 131.56 points.

VNDirect Securities Co (VND) was the most heavily traded stock with 5 million shares changing hands.

Foreign investors were net sellers on both exchanges. They sold a total of 8 billion VND (380,900 USD) shares.-VNA
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