Markets stall on meagre trades

The VN-Index failed to sustain early gains on the HCM Stock Exchange on July 28 before closing at 408.39 points, a decline of 0.25 percent from the previous day's session.
The VN-Index failed to sustain early gains on the HCM Stock Exchange on July 28 before closing at 408.39 points, a decline of 0.25 percent from the previous day's session.

Trades were mixed, with decliners edging out advancers on the HCM City bourse by 101-97 overall. The value of trades fell by 18 percent to just 417 billion VND (20.2 million USD) on a volume of about 23.6 million shares.

Performance of blue chips was mixed. Software producer FPT rose 3.4 percent, while financial group Masan Group (MSN), Sacombank (STB), Vietcombank (VCB), Saigon Securities Inc (SSI) and steelmaker Hoa Phat Group (HPG) all realised gains of about 1 percent.

Meanwhile, real estate developers VinpearlLand (VPL) and Vincom (VIC), along with insurer Bao Viet Holdings (BVH) and Vietinbank (CTG), ended the day in negative territory.

Sacombank, the fourth largest listed lender by capitalisation, became the most-active share, but with just over 800,000 shares changing hands.

Shares of Tien Giang Investment and Construction Co (THG) debuted on July 28, becoming the 300th listed share on the HCM City market. However, THG closed its first trading day down from its reference price of 25,000 VND to just 20,000 VND, on a volume of only 30 shares.

On the Hanoi Stock Exchange, the HNX-Index closed essentially unchanged at 69.95, after a sluggish session in which only 18.96 million shares were traded, worth just 198.5 billion VND (9.6 million USD).

Kim Long Securities (KLS) was again the most-active stock nationwide, with 1.7 million shares exchanged. KLS managed to close up by 1 percent on the day to 10,600 VND per share.

In contrast to the moves of domestic investors, foreign investors on July 28 concluded the session as net buyers on both exchanges, picking up almost a million shares worth a combined 36 billion VND (1.7 million USD)./.

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