Profit-taking drags on shares
Shares on both national bourses slumped during Sept. 14's session, following an encouraging rally.
Shares on both national bourses slumped during Sept. 14's session, following an encouraging rally.
Meanwhile, the Asian Development Bank on the same day forecast that Vietnam's economic growth rate for this year might drop to 5.8 percent from 6.1 percent.
In addition, Minister of Finance Vuong Dinh Hue, in a document sent to the Ministry of Industry and Trade regarding tax and electricity rate proposals, said that electricity prices would be increased to cover operation costs.
"However, if electricity rates are increased, it will be really difficult to keep this year's inflation below 20 percent," commented ACB Securities Co analyst Nguyen Duy Phong.
On the HCM Stock Exchange, the VN-Index dropped 0.5 percent to close at 466.99 points. Losers outnumbered gainer by 138-107.
The day's trade value increased 8 percent over Sept. 13 to nearly 1.3 trillion VND (62.8 million USD), while volume rose by 13 million shares to 81.4 million.
Bluechips tumbled, the majority of the 10 leading shares by capitalisation having lost between 0.6-3.8 percent, with software giant FPT (FPT) losing the most although it announced a profit of more than 1 trillion VND (48.3 million USD) for the first eight months of this year.
However, insurer Bao Viet Holdings (BVH) was able to reach its ceiling price for the seventh consecutive session, closing at 82,000VND . Food producer Masan Group (MSN) gained 2.7 percent, PetroVietnam Finance (PVF) gained 2.6 percent while Sacombank (STB) edged up 0.7 percent.
Telecommunications equipment provider Sacom (SAM) was the most-active code in HCM City, with 4.3 million shares changing hands. It closed up 4.1 percent at 7,400VND .
On the Hanoi Stock Exchange, the HNX-Index dived 2.4 percent to conclude the session on 77.33 points.
Profit taking made trading volume increase to nearly 94.8 million shares, up 53.2 percent from the previous. Trading value also rose 42.6 percent to 1.1 trillion VND (53.1 million USD).
Kim Long Securities Co (KLS) saw the highest trading volume, with 10.2 million shares exchanged, though it slid 4.4 percent to 12,600 VND. Foreign investors shifted to be net sellers on both bourses, picking a combined net of 132.3 billion VND(6.4 million USD) worth of shares./.
Meanwhile, the Asian Development Bank on the same day forecast that Vietnam's economic growth rate for this year might drop to 5.8 percent from 6.1 percent.
In addition, Minister of Finance Vuong Dinh Hue, in a document sent to the Ministry of Industry and Trade regarding tax and electricity rate proposals, said that electricity prices would be increased to cover operation costs.
"However, if electricity rates are increased, it will be really difficult to keep this year's inflation below 20 percent," commented ACB Securities Co analyst Nguyen Duy Phong.
On the HCM Stock Exchange, the VN-Index dropped 0.5 percent to close at 466.99 points. Losers outnumbered gainer by 138-107.
The day's trade value increased 8 percent over Sept. 13 to nearly 1.3 trillion VND (62.8 million USD), while volume rose by 13 million shares to 81.4 million.
Bluechips tumbled, the majority of the 10 leading shares by capitalisation having lost between 0.6-3.8 percent, with software giant FPT (FPT) losing the most although it announced a profit of more than 1 trillion VND (48.3 million USD) for the first eight months of this year.
However, insurer Bao Viet Holdings (BVH) was able to reach its ceiling price for the seventh consecutive session, closing at 82,000VND . Food producer Masan Group (MSN) gained 2.7 percent, PetroVietnam Finance (PVF) gained 2.6 percent while Sacombank (STB) edged up 0.7 percent.
Telecommunications equipment provider Sacom (SAM) was the most-active code in HCM City, with 4.3 million shares changing hands. It closed up 4.1 percent at 7,400VND .
On the Hanoi Stock Exchange, the HNX-Index dived 2.4 percent to conclude the session on 77.33 points.
Profit taking made trading volume increase to nearly 94.8 million shares, up 53.2 percent from the previous. Trading value also rose 42.6 percent to 1.1 trillion VND (53.1 million USD).
Kim Long Securities Co (KLS) saw the highest trading volume, with 10.2 million shares exchanged, though it slid 4.4 percent to 12,600 VND. Foreign investors shifted to be net sellers on both bourses, picking a combined net of 132.3 billion VND(6.4 million USD) worth of shares./.
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