Markets slide after late sell-off

The stock markets on Nov. 15 could not retain earlier gains as a sell-off followed a modest rally led by purchases of shares at low prices.

Friday, November 16, 2012 11:41

The stock markets on Nov. 15 could not retain earlier gains as asell-off followed a modest rally led by purchases of shares at lowprices.

The VN-Index on the HCM Stock Exchange shed 0.2percent to 386.91 points. Only 66 listed stocks increased, while theother 204 codes retreated or closed unchanged.

Trading valuejumped by about 45 percent over the previous day's level to 464.6billion VND (22 million USD), and trading volume rose to 28.76 millionshares.

Most blue chips tumbled, such as property developer TanTao (ITA), insurer Bao Viet (BVH), Military Bank (MBB), Phu MyFertiliser (DPM) and Financial Conglomerate Ocean Group (OGC) all losingbetween 1.1-3.6 percent and PetroVietnam Finance (PVF) hitting thefloor price.

Of the 30 leading shares in terms of capitalisation and liquidity tracked by the VN30, only seven managed to rally.

The index, with only a small boost, ended 1.13 percent lower at 457.08 points.

On the Hanoi Stock Exchange, the HNX-Index fell 1.17 percent, reaching51.69 points. The number of gainers almost doubled that of losers,while most of the stocks finished the day unchanged.

Marketvalue, however, climbed 37.7 percent compared to Nov. 14's figure to162.5 billion VND (7.7 million USD) on a volume of 27.5 million shares.

The HNX30, representing the northern bourse's top shares, also slid 1.5 percent to 94.25 points.-VNA

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