HCM City shares make shaky recovery

Shares on September 17 rebounded in Ho Chi Minh City , but lost ground in Hanoi.
Shares on September 17 rebounded in Ho Chi Minh City , but lost ground in Hanoi.

On the HCM City Stock Exchange, the VN-Index gained 0.45 percent toreach 477.73 points, although losers outnumbered gainers by 108-78.

The VN30 also added 0.7 percent to reach 535.80 points. The 30 largeststocks tracked by the index were mixed, with 13 codes increasing andeight others declining.

Notably, PetroVietnam DrillingServices (PVD) reached its ceiling price of 61,500 VND (2.9 USD), whilePetroVietnam Finance (PVF) hit the floor price for the fourth successivesession.

The overall value of trades on the bourseincreased slightly compared to September 16's figure to about 719.2billion VND (33.9 million USD) with around 39.1 million sharesexchanged.

Meanwhile, on the Hanoi Stock Exchange,the HNX-Index ended the session at 59.53 points, a 0.8 percent fallcompared to the previous day. Losers overwhelmed gainers by 91-68.

Trading was sluggish again, with a total of 25.4 million shares worth161.1 billion VND (7.5 million USD) changing hands, dropping 37.2percent in value.

The HNX30, composed of thebourse's top 30 shares in terms of capitalisation and liquidity, alsoretreated 0.9 percent to 109.38 points.

Among listedbanking stocks, only Vietcombank (VCB) managed to close in the green.The seven others tumbled or finished the session unchanged.

According to the State Bank of Vietnam's latest data, the total assetsof commercial banks in July plunged 38.3 trillion VND (1.8 billion USD)compared to June.

In addition, non-performing loansas of July accounted for 4.58 percent of the outstanding loans, up by0.12 percent compared to the end of June and halting the two-monthdecrease.
In general, the market trend was still a decliningspiral as liquidity did not improve, said FPT Securities Co analysts inyesterday's report. Especially in Hanoi, Sai Gon-Hanoi Bank (SHB) was nolonger the boost to the market. It fell 1.4 percent.
Meanwhile, negative movements still affected stocks with high tradingfrequency, such as construction group Vinaconex (VCG) and PetroVietnamConstruction (PVX).-VNA

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