Bourses hit unexpected slump
On the HCM Stock Exchange on September 11, the VN-Index lost 0.93 percent to close the session at 566.74 points. It also edged down 0.1 percent the day earlier.
Investors at Tan Viet Securities Exchange Centre (Source: VNA)The market breadth was negative, as decliners outnumbered advancers by 112-87 and the other 86 finished unchanged.
Half of the top 30 stocks by market value and liquidity declined, led by banks.
Eight of a total nine listed lenders slumped, except Eximbank (EIB), which rose 0.8 percent. Meanwhile, the biggest bank by market capitalisation, Vietcombank (VCB), dived 2.6 percent and others lost 0.7 to 2 percent.
Their crash extended to other blue chips, including dairy giant Vinamilk (VNM), VinGroup (VIC), Bao Viet Holdings (BVH) and Sai Gon Securities Inc (SSI).
Real estate companies were among few gainers, as many of these shares rose 6 to 7 percent. The daily ceiling rise is capped at 7 percent in HCM City's market. The gainers included KinhBac City Development (KBC), Tan Tao Investment Industry (ITA) and Long Dien Real Estate (LDG).
ITA and KBC were also leading stocks by volume with 6.3 million shares and 4.6 million shares, respectively.
Liquidity increased over September 10, totalling 95 million shares worth 1.42 trillion VND (63.1 million USD), up 36 percent in volume and 22 percent in value compared with the previous session.
Meanwhile, the HNX-Index on the Hanoi Stock Exchange also declined 0.33 percent to end at 77.53 points.
Trading volume climbed 22 percent over September 10, a total of more than 35 million shares, while value of trades rose 18 percent to reach 387.5 billion VND (17.2 million USD).
However, only eight stocks traded more than a million shares, of which Thang Long Investment Group (TIG) was the most active with 3.6 million shares. But its price fell for a second day by 0.9 percent to 11,300 VND a share.
Foreign investors were net sellers in the two markets, unloading shares worth a combined 59 billion VND (2.6 million USD), of which the net sell value in Hanoi more than doubled that in HCM City.-VNA
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