Market stalls on tumbling blue chips
Stocks trod water on the HCM Stock Exchange on March11,with the VN-Index closing off a mere 0.2 percent to 524.24 points.
Stocks trod water on the HCM Stock Exchange on March11,with the VN-Index closing off a mere 0.2 percent to 524.24 points.
The value of the day’s trades also dropped by 15 percent from the previous day’s total to 2.2 trillion VND (115.2 million USD), as volume also slipped by 10 percent to just over 51 million shares.
“The loss of value by such market leaders as Vinamilk (VNM), Bao Viet Holdings (BVH), Saigon Securities Inc (SSI) and other financial blue chips in the final minutes of trading is regarded as the main reason for the drop in the VN-Index,” said FPT Securities Co analysts in their daily report.
Sacombank (STB) held the position as the most active share, with nearly 2.6 million traded. The HCM City market on March 11 also welcome the listing of 8 million shares by Information and Networking Technology Co (CMT), CMT closed unchanged at 50,000 VND (2.6 USD) o a volume of 82,450 shares.
On the Hanoi Stock Exchange, the HNX-Index also closed down by a modest 0.32 percent to 171.54 points.
Trading volume fell by nearly 30 percent to 27.2 million shares, worth a combined 937.7 billion VND (49.1 million USD), off 27 percent from March 10’s value.
Except for construction giant Vinaconex (VCG) and shares in the Song Da family, other blue chips all lost value on the Hanoi market, including Asia Commercial Bank (ACB), Kim Long Securities Co (KLS), PetroVietnam Construction (PVX), and Saigon-Hanoi Commercial Bank (SHB)./.
The value of the day’s trades also dropped by 15 percent from the previous day’s total to 2.2 trillion VND (115.2 million USD), as volume also slipped by 10 percent to just over 51 million shares.
“The loss of value by such market leaders as Vinamilk (VNM), Bao Viet Holdings (BVH), Saigon Securities Inc (SSI) and other financial blue chips in the final minutes of trading is regarded as the main reason for the drop in the VN-Index,” said FPT Securities Co analysts in their daily report.
Sacombank (STB) held the position as the most active share, with nearly 2.6 million traded. The HCM City market on March 11 also welcome the listing of 8 million shares by Information and Networking Technology Co (CMT), CMT closed unchanged at 50,000 VND (2.6 USD) o a volume of 82,450 shares.
On the Hanoi Stock Exchange, the HNX-Index also closed down by a modest 0.32 percent to 171.54 points.
Trading volume fell by nearly 30 percent to 27.2 million shares, worth a combined 937.7 billion VND (49.1 million USD), off 27 percent from March 10’s value.
Except for construction giant Vinaconex (VCG) and shares in the Song Da family, other blue chips all lost value on the Hanoi market, including Asia Commercial Bank (ACB), Kim Long Securities Co (KLS), PetroVietnam Construction (PVX), and Saigon-Hanoi Commercial Bank (SHB)./.
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