Monday, August 21, 2017 - 6:07:42

Shares slump as investors retreat

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Shares declined further on August 27 afternoon due to the lack of bottom-fishing that had bolstered the market on the previous day.

On the HCM City Stock Exchange, the VN-Index lost 5 points (1 percent), to close at 485.57.

Heeding warnings from analysts that the market remained very volatile, investors mainly stayed away, pushing down market trades.

Almost 28 million shares worth 561.5 billion VND (26.7 million USD) changed hands, down 35 percent in volume and 40 percent in value compared to August 26’s levels.

Blue chips continued to sink as only two of the 30 largest shares, Eximbank (EIB) and Vietinbank (CTG), made gains.

Heavyweight shares including Vinamilk (VNM), VinGroup (VIG), Masan Group (MSN) and Bao Viet Holdings (BVH) tumbled from 0.6-2.6 percent.

Trades on these 30 shares also decreased, totalling 189 billion VND (9 million USD) or 47 percent of the total market value, far lower than the daily average of 50-60 percent.

As a result, the VN30 slipped 0.63 percent to reach 539.97 points.

FLC Group (FLC) was the most active stock on August 27 with 1.5 million shares traded, causing a 3.85 percent slump to end at 5,000 VND a share.

Property developer Hoang Quan Corp (HQC) closely followed, with total trades of 1.4 million shares changing hands to secure a loss of 1.64 percent, closing at 6,000 VND each.

On the Hanoi Stock Exchange, the HNX-Index shed 0.62 percent to finish at 61.41 points.

Market volume continued to wane, totalling around 12 million shares, but the value of trades was up 10 percent to 140 billion VND (6.7 million USD).

Sai Gon-Ha Noi Bank (SHB) remained the most active code with 1.5 million shares traded at 6,500 VND a share.

Foreign investors returned as net buyers on the HCM City market for a modest margin of 5.8 billion VND (276,200 USD), but they remained net sellers on the Hanoi market with a net value of 39.6 billion VND (1.9 million USD).-VNA
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