Dip in Index echoes US market

Massive sell-offs sent national stock markets into their second day of declines on May 10, with the VN-Index of HCM Stock Exchange falling 1.41 parent to 534.38 points.
Massive sell-offs sent national stock markets into their second day of declines on May 10, with the VN-Index of HCM Stock Exchange falling 1.41 parent to 534.38 points.

Trading was busy with 81.09 million shares changing hands for a total value of 2.77 trillion VND (145.8 million USD). PetroVietnam Finance (PVF) was the only blue chip to advance (3.36 percent) while other big-capital stocks lost points, such as VietinBank (CTG) down 1.42 percent, Eximbank (EIB) down 1.38 percent and Sacombank (STB) down 2.68 percent.

Sai Gon Securities Inc (SSI) was the most active stock with 3.45 million shares changing hands; STB was runner-up with 2.9 million.

On the Hanoi Stock Exchange, the HNX-Index dropped another 1.45 percent on May 10, ending the session at 181.7 points. The market witnessed 62.7 million shares being traded, with a total turnover of 2.2 trillion VND (115.8 million USD).

Petroleum stocks were only blue chips to gain ground, including PetroVietnam Insurance (PVI), PetroVietnam Construction (PVX) and PetroVietnam Technical Services (PVS), each of which added about 6 percent.

PVX had the biggest trading volume of 7.6 million shares while Kim Long Securities (KLS) followed with 2.2 million.

The bourse on May 10 welcomed Vinaconex Investment & Tourism Development Company (VCR) with 30 million shares. The share closed at 38,000 VND, in comparison to an opening price of 40,000 VND, with 765,000 shares changing hands.

Foreigners bucked the trend to be net-buyers in HCM City , picking up 490,000 shares for a net value of 22.2 billion VND (1.2 million USD). However, they rushed to profit in Hanoi with 380,000 shares sold for 4 billion VND (210,526 USD)./.

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