Indices slip on sluggish trade

Shares closed off slightly for a second day on the HCM Stock Exchange, with the VN-Index slipping by 0.17 percent on Oct.18 to end the session at 457.59 points.
Shares closed off slightly for a second day on the HCM Stock Exchange,with the VN-Index slipping by 0.17 percent on Oct.18 to end the sessionat 457.59 points.

Trades continued sluggish, with only 26.4 million shares changing hands, worth just 686.5 billion VND (32.3 million USD).

Vietnam Mechanisation Electrification and Construction (MCG), themost-active share on the day with 1.6 million traded, was also the day'stop gainer, closing up 4.8 percent as its shareholders commenced aplanned purchase of 3.2 million shares.

Buying byforeign investors began slowing down, as they just picked only a net ofabout 100,000 shares on the HCM City market, worth a net of 11 billionVND (564,102 USD). They were net buyers on the Hanoi market, but bya volume of just 354,100 shares, worth only 8.2 billion VND (420,512USD).

On the Hanoi Stock Exchange, the HNX-Indexalso fell for a second day, ending the session down 0.67 percent to118.89 points.

The value of trades grew by 4.2percent over Oct. 15 to 371.2 billion VND (19 million USD), on a totalvolume of 17.3 million shares. PetroVietnam Construction (PVX) was themost-active share on the northern bourse, with 1.7 million traded.

Ocean Bank deputy director Nguyen Hong Hai said that stock marketswere coping with shortage of new capital inflows as both majorinstitutional investors saw not many changes in market situation.

Tightened credit contributed to limit capital inflows, even as thenumber of shares listed on the market was expected to continueincreasing through the end of the year, Hai said.

Vietnam International Securities Co analysts predicted that indiceswould fluctuate with a narrow band this week, as economic fundamentalswere sound enough to prevent a steep dip in the market./.

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