Decline continues on both bourses

Shares decreased slightly on both national stock bourses on October 11 afternoon.
Shares decreased slightly on both national stock bourses on October 11 afternoon.

On the HCM City Stock Exchange, the VN-Index lost 0.06 percent to finish the day at 494.53 points.

More than 53.52 million shares changed hands with a total value of841.47 billion VND (40 million USD), 25 percent lower than the tradingsession on October 10.

Despite the VN-Index dropping, theVN30-Index, tracking the southern city's top shares in terms ofcapitalisation and liquidity, gained 0.05 percent to reach 552.16points.

Losers overwhelmed gainers by 9-7. However, with higherincreasing rates, gainers succeeded to raise the VN-Index on October 12.

Especially, Gemadebt Corporation (GMD), a logistic company, gained2.7 percent to reach 26,700 VND (1.27 USD) per share and Vietcombank(VCB) was 0.15 percent higher at 28,800 VND (1.7 USD).

Meanwhile nine stocks lost between 100 VND and 200 VND per share.

On the Hanoi Stock Exchange, the HNX-Index slid 0.17 percent to finishat 60.63 points with a total value of 181.86 billion VND (8.66 millionUSD) on an exchange of 22.85 million shares.

The HNX-Index, representing the capital city's leading shares, was 0.35 percent lower at 112.47 points.

Foreign investors continued to conclude the day as net buyers with a value of 70.39 billion VND (3.35 million USD).

According to Alan T. Phan, an economist at VinaCapital Group, as quotedby Dau Tu Chung Khoan, Vietnam 's stock market was among the topfive markets in terms of investment attractiveness in the world despitethe trend that investors were withdrawing capital from emerging markets.

From the beginning of this month, foreign capital flow intoVietnam 's stock market showed improvements with foreign investorsremaining net buyers.

Investors were also awaiting news onregulations that would increase room for foreign investors in securitiesand banking sectors.

According to an analyst at BIDV Securities,in the first nine months of this year, investors tended to shift theirinvestments to blue chips with good business results.

The companypointed out that in the top 20 shares, which included shares with growthrates of 30 percent and daily average trading volumes of more 80,000shares from the same period last year, only PetroVietnam Fertiliser andChemicals Corporation (DPM) were blue chips.

However, there were six blue chips in the list of the first nine months this year, including GAS, PPC, PVD, HPG, REE and VNM.-VNA

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