Business

Shares fall short of three-day rally

Shares lost on June 28 on both exchanges, rallying for just two sessions on the two previous days. However, FPT Securities Co analysts said the market trend is not negative.
Shares lost on June 28 on both exchanges, rallying for just twosessions on the two previous days. However, FPT Securities Co analystssaid the market trend is not negative.

On the Ho Chi Minh Stock Exchange, the VN-Index lost 0.38 percent to 481.13 points. Losers overwhelmed gainers by 114-77.

Tradingvalue rose slightly over the previous trading day to about 1 trillionVND (47.6 million USD) as 62.4 million shares changed hands.

Theslumps of half of 30 blue chips tracked by the VN30 drove the indexdown 0.25 percent to 538.54 points. Six stocks slightly increased.

On the Hanoi Stock Exchange, the HNX-Index shed 0.14 percent, reaching 62.76 points.

Trading value fetched 262.2 billion VND (12.4 million USD) with 35.9 million shares exchanged.

The HNX30, composed of the northern bourse's 30 leading shares, also fell 0.4 percent to 116.93 points.

Foreigninvestors shifted from net sellers to net buyers on June 28 by acombined margin of over 23 billion VND (more than 1 million USD).

Onthe gold market, SJC gold bars were traded at around 34 million VND(1,600 USD) per tael at 9am on June 28, declining nearly 6 percentcompared to the previous day’s closing price. However, as people rushedto buy gold, the price then rose to 36-37 million VND (1,700-1,760 USD)per tael.

Gold traders confirmed buyers overwhelmed sellers.

June 28 was the last day for banks to close their gold position before the deadline on June 30.

Thecentral bank said all 40,000 taels of gold were bought by five buyers.The price ranged between 35.05-35.5 million VND (1,660-1,690 USD), 1million USD (47.6 USD) higher than the market price and 5 million VND(238 USD) higher than the world price.
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