Business

Late buys fail to save markets

An accelerated sell-off of shares caused the HCM Stock Exchange to undergo a correction on March 30, with the VN-Index closing off by nearly 1 percent to 500.72 points.
An accelerated sell-off of sharescaused the HCM Stock Exchange to undergo a correction on March 30, withthe VN-Index closing off by nearly 1 percent to 500.72 points.

But, following Monday’s sluggish pace, the overall value of the day’strades returned to a more active 2.22 trillion VND (116.8 million USD),on a total volume of 58.8 shares.

Saigon Cable and Telecommunication Materials Co (SAM) became the mostactive share, with a volume of 4.8 million, after the company’sshareholders on Sunday voted to approve a target for this year of 1.31trillion VND in earnings and 282.6 billion VND in profit. They alsoapproved proposals to increase its charter capital this year and torename the company SACOM Development and Investment Corporation.

The Hanoi Stock Exchange saw its fourth session of declines on the sameday and the HNX-Index closed down by 0.84 percent to 162.37 points.Volume reached 27.7 million shares, worth a combined 906.84 billion VND(47.7 million USD), with Kim Long Securities Co (KLS) reclaming thespot as the most active share, with a volume of 2.6 million changinghands.

Foreign investors turned to be net sellers on the southern market by anet volume of about a million shares, worth a net of 36.9 billion VND(1.94 million USD), but they were net buyers on the Hanoi market,picking up a meagre 97,600 shares./.
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