Hanoi bourse hits new low
The VN-Index declined on Nov. 21 by another 0.13 percent from the
previous session on Nov. 18, 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 VN-Index declined on Nov. 21 by another 0.13 percent from the
previous session on Nov. 18, 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 percent from the previous session, totalling just 326.7 billion VND (15.3 million USD) 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 will offer bonus shares at a ratio of 50 percent on November 29. STB, the most-active code with 2.3 million shares traded, rose 4.1 percent on information that it will buy back 100 million shares. MBB also increased 3.3 percent 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 percent, weighing on the VN-Index.
On the Hanoi Stock Exchange, the HNX-Index tumbled by 0.8 percent to a new record low of 61.68 points. Trading was sluggish, declining by 27 percent to just 18.2 million shares, while the value of trades fell by 28 percent to just 162.7 billion VND (7.6 million USD). 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.
Ongoing net sales by foreign investors also helped erode local investor confidence, analysts said, noting that foreign investors on Nov. 21 unloaded a combined 24.6 billion VND(1.2 million USD) worth of shares on both exchanges./.
The value of trades declined by nearly 38 percent from the previous session, totalling just 326.7 billion VND (15.3 million USD) 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 will offer bonus shares at a ratio of 50 percent on November 29. STB, the most-active code with 2.3 million shares traded, rose 4.1 percent on information that it will buy back 100 million shares. MBB also increased 3.3 percent 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 percent, weighing on the VN-Index.
On the Hanoi Stock Exchange, the HNX-Index tumbled by 0.8 percent to a new record low of 61.68 points. Trading was sluggish, declining by 27 percent to just 18.2 million shares, while the value of trades fell by 28 percent to just 162.7 billion VND (7.6 million USD). 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.
Ongoing net sales by foreign investors also helped erode local investor confidence, analysts said, noting that foreign investors on Nov. 21 unloaded a combined 24.6 billion VND(1.2 million USD) worth of shares on both exchanges./.
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