Shares nosedived on Nov. 2 on both national stock exchanges, following
global fears that a referendum in Greece might torpedo the eurozone
bailout deal.
On the HCM Stock Exchange, declining
investor confidence also pushed the VN-Index down to 407.79 points, a
loss of 1.46 percent from Nov. 1's close. The value of trades tumbled 32
percent from the previous day, totalling just 490.9 billion VND (23.4
million USD) on a volume of 31.6 million shares, while decliners
outnumbered advancers by 183-50.
Most blue chips fell,
with the notable exceptions of dairy giant Vinamilk (VNM) and software
producer FPT. VNM hit its ceiling price after the company approved the
plan to pay a dividend in shares at a ratio of 2:1, with the payout to
conclude by December 1. FPT rose by 1.2 percent after news that Orchid
Fund had registered to buy nearly 6.4 million FPT shares.
Military Bank (MBB), on its second trading day, bottomed out at 13,200
VND per share despite foreign investors negotiating to buy 4.2 million
shares – making MBB, along with with Becamex Infrastructure Development
Co (IJC), the most-active shares on the HCM City exchange.
On the Hanoi Stock Exchange, the HNX-Index also fell by 2 percent on
Nov. 2 to conclude the session at 67.14 points, with more than half of
listed codes losing ground. The value of trades eased slightly from the
previous session to 382.8 billion VND (18.2 million USD), as just 36.4
million shares changed hands.
Kim Long Securities (KLS)
became the most-active share nationwide, with 3.5 million traded, but it
plunged by 4.5 percent to 10,600 VND per share./.