Business

Index dips on brisk Vinamilk trades

The VN-Index slid by 1.69 percent on Feb. 9 to a close of 482.89 points, as trading on the HCM Stock Exchange remained sluggish in the final days before the Tet (Lunar New Year) holiday.
The VN-Index slid by 1.69 percent on Feb. 9 to a close of 482.89 points, astrading on the HCM Stock Exchange remained sluggish in the final days before theTet (Lunar New Year) holiday.

The value of the day’s trades poked itsnose back above 1 trillion VND (60 million USD), but just barely, with a volumeof 24.5 million shares changing hands.

Vinamilk (VNM) was the marketleader, with almost 2 million shares sold, as foreign investors focused on thedairy producer by selling off 405,000 VNM shares.

On the Hanoi StockExchange, meanwhile, HNX-Index dropped by 1.71 percent on Feb. 9 to end theday’s session at 158.61. The value of trading reached only 426.81 billion VND(23.1 million USD) on a volume of just 13.4 million shares.

Kim LongSecurities (KLS) reclaimed the biggest volume of 2.3 million.

Analystsat BIDV Securities Co said that corporate earnings were no longer having muchimpact on trading decisions, and investors lacked any new economic news thatmight affect trading.

As a result, market moves would be gradual andfluctuation would be around a tighter range,” they predicted, noting that suchconditions were hostile to day-trading tactics.

Construction materials,food and beverage and consumer goods shares all remained the investment optionswith the greatest potential, they added./.
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