Falling blue chips dragged shares down on both stock exchanges on April 14, further dampening investor sentiment.
Onthe Hochiminh Stock Exchange, the VN-Index slid for a third consecutivesessions, falling below the 600-point sentimental threshold at 596.11points as investors continued to sell blue chips on fears that priceswould decline further.
"The decline of blue-chips like BVH, GAS,MSN, VIC and VNM weighed on the southern exchange. The past long rally,with most stocks advancing over 50 percent and many more than doublingthe value from late 2013, fueled fears that current share values haveovershot corporate earnings outlook," analysts of FPT Securities Cocommented on the company's website.
With 25 of the top 30 shares by market value and liquidity losing value, the VN30 fell 0.71 percent to end at 661.12 points.
Heavyweightshares such as Bao Viet Holdings (BVH), PV Gas (GAS), Masan Group(MSN), VinGroup (VIC) and Vinamilk (VNM) closed down by 0.5-2 percent.
Fallingprices attracted bargain investors, however, with market volume andvalue rising 20 percent, totaling 128 million shares and fundcertificates worth nearly 2.6 trillion VND (123.2 million USD).
Realestate developer FLC Group (FLC) became the most active stock on tradesof 8.5 million shares. FLC rallied 1.32 percent to end at 15,300 VNDfollowing news on April 11 that the group received investmentcertificates for two big real estate projects worth a combined 3trillion VND (142.2 million USD) in central Thanh Hoa province.
Theprovincial authority approved the group's 800 billion VND (38.1 millionUSD) housing project and 2.2 trillion VND (104.76 million USD)eco-tourism and recreation project in Sam Son town.
On the HanoiStock Exchange, the HNX-Index sank 0.79 percent to close at 86.79 pointswhile the HNX30 also closed 0.5 percent lower at 182.32 points.
Tradingwas sluggish here with volume down 25 percent to 61 million sharesworth 736.2 billion VND (34.9 million USD), more than 20 percent lowerthan April 11 level.
Hot stocks PetroVietnam Construction (PVX)and Sai Gon-Ha Noi Bank (SHB) were still the most active codes on thenorthern bourse with over six million of each changing hands. PVX closedflat at 6,200 VND a share while SHB dipped nearly 1 percent to 11,000VND. Foreign investors concluded on April 14 as net sellers on bothexchanges, unloading shares worth a combined 92.5 billion VND (4.4million USD).-VNA
Onthe Hochiminh Stock Exchange, the VN-Index slid for a third consecutivesessions, falling below the 600-point sentimental threshold at 596.11points as investors continued to sell blue chips on fears that priceswould decline further.
"The decline of blue-chips like BVH, GAS,MSN, VIC and VNM weighed on the southern exchange. The past long rally,with most stocks advancing over 50 percent and many more than doublingthe value from late 2013, fueled fears that current share values haveovershot corporate earnings outlook," analysts of FPT Securities Cocommented on the company's website.
With 25 of the top 30 shares by market value and liquidity losing value, the VN30 fell 0.71 percent to end at 661.12 points.
Heavyweightshares such as Bao Viet Holdings (BVH), PV Gas (GAS), Masan Group(MSN), VinGroup (VIC) and Vinamilk (VNM) closed down by 0.5-2 percent.
Fallingprices attracted bargain investors, however, with market volume andvalue rising 20 percent, totaling 128 million shares and fundcertificates worth nearly 2.6 trillion VND (123.2 million USD).
Realestate developer FLC Group (FLC) became the most active stock on tradesof 8.5 million shares. FLC rallied 1.32 percent to end at 15,300 VNDfollowing news on April 11 that the group received investmentcertificates for two big real estate projects worth a combined 3trillion VND (142.2 million USD) in central Thanh Hoa province.
Theprovincial authority approved the group's 800 billion VND (38.1 millionUSD) housing project and 2.2 trillion VND (104.76 million USD)eco-tourism and recreation project in Sam Son town.
On the HanoiStock Exchange, the HNX-Index sank 0.79 percent to close at 86.79 pointswhile the HNX30 also closed 0.5 percent lower at 182.32 points.
Tradingwas sluggish here with volume down 25 percent to 61 million sharesworth 736.2 billion VND (34.9 million USD), more than 20 percent lowerthan April 11 level.
Hot stocks PetroVietnam Construction (PVX)and Sai Gon-Ha Noi Bank (SHB) were still the most active codes on thenorthern bourse with over six million of each changing hands. PVX closedflat at 6,200 VND a share while SHB dipped nearly 1 percent to 11,000VND. Foreign investors concluded on April 14 as net sellers on bothexchanges, unloading shares worth a combined 92.5 billion VND (4.4million USD).-VNA
