Friday, August 18, 2017 - 23:41:04

Markets remain mired in misery

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Shares fell further on the Ho Chi Minh Stock Exchange on Nov. 28 as investors sought solace from the lacklustre market by continuing to sell.

The benchmark VN-Index declined by another 0.29 percent to close the day at 375.79 points, extending its losing streak to six consecutive sessions.

Blue chips extended their slump with a 0.49 percent decrease on the VN30 Index to close at 441.49 points.

At 591.6 billion VND ( 28.3 million USD), the value of trades was nearly double the previous day's level but this brought little respite for share prices.

Wood processor Duc Long Gia Lai Group (DLG) and Saigon Securities Inc (SSI) were the most active shares on the southern bourse during the day, with more than 700,000 shares traded on each code.

On the Hanoi Stock Exchange, the HNX-Index scraped to a positive in the last minutes to conclude at 51 points, up just 0.08 percent on Nov. 27's level.

Trading improved with more than 19.5 million shares, worth 123.6 billion VND (5.9 million USD), changing hands, up 30 percent.

Sai Gon-Hanoi Bank (SHB) was still the most active code with trades of 1.89 million shares, while SHC closed flat at 4,800 VND a share.

"Never in its history has the stock market experienced such a long-term decline," said Nguyen Huu Viet, head of the Research and Analysis Department under International Royal Securities Co.

Stock indices fell for the seventh consecutive month with sluggish trading showing demand and supply remains weak.

Viet added: "Although the fall of each session is modest, the relentless declines erode investor confidence."-VNA
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