Shares recede after two-day rally
Shares slumped on both of the nation's stock markets on Dec. 16, led by a
number of banking shares which receded from two prior days of gains.
Shares slumped on both of the nation's stock markets on Dec. 16, led by a
number of banking shares which receded from two prior days of gains.
Shares of Eximbank (EIB), Sacombank (STB), Asia Commercial Bank (ACB), Hanoi Housing Bank (HBB) and Sai Gon-Hanoi Bank (SHB), all dropped to their floor prices, while Vietinbank (CTG), Sai Gon Maritime Bank (SHC) and Nam Viet Bank (NVB) bucked the trend and posted gains.
Saigon Securities Inc analysts had said it would be difficult for bank shares to maintain prices after three consecutive days of solid gains. They also advised investors to be cautious, realise profits as soon as possible, and wait for reasonable prices before buying back in.
On the HCM Stock Exchange on Dec. 16, the VN-Index closed off 2.69 percent to 480.21 points. Trading volume declined 15.5 percent from the previous session to around 80.8 million shares, worth a total of 1.9 trillion VND (95 million USD).
Decliners outnumbered advancers by 208-28, with Phu My Fertilisers (DPM) and Vietinbank (CTG) the only codes out of the 10 leading shares on the market by caitalisation to post gains.
Tan Tao Investment Industry Corp (ITA), with 5.54 million traded, was the most-active share, closing unchanged at 16,300 VND (0.82 USD) per share.
On the Hanoi Stock Exchange, the HNX-Index retreated by 4.29 percent to end the session at 115.43 points. The volume of trades declined by 27 percent to about 57.7 million shares, for a total value of 1.1 trillion VND (55 million USD).
Losses outnumbered gains by 288-43, with 123 codes fell to the floor. Kim Long Securities (KLS) – the most active share nationwide with 7.1 million exchanged – also fell to the floor at 16,100 VND (0.81 USD) at the close.
Foreign investors remained net buyers on both exchanges on Dec. 16, picking up a combined net of almost 120 billion VND (6 million USD). They bought most heavily into financial shares, including Vietinbank (CTG), Vietcombank (VCB), Saigon Securities Inc (SSI) and Bao Viet Securities (BVS)./.
Shares of Eximbank (EIB), Sacombank (STB), Asia Commercial Bank (ACB), Hanoi Housing Bank (HBB) and Sai Gon-Hanoi Bank (SHB), all dropped to their floor prices, while Vietinbank (CTG), Sai Gon Maritime Bank (SHC) and Nam Viet Bank (NVB) bucked the trend and posted gains.
Saigon Securities Inc analysts had said it would be difficult for bank shares to maintain prices after three consecutive days of solid gains. They also advised investors to be cautious, realise profits as soon as possible, and wait for reasonable prices before buying back in.
On the HCM Stock Exchange on Dec. 16, the VN-Index closed off 2.69 percent to 480.21 points. Trading volume declined 15.5 percent from the previous session to around 80.8 million shares, worth a total of 1.9 trillion VND (95 million USD).
Decliners outnumbered advancers by 208-28, with Phu My Fertilisers (DPM) and Vietinbank (CTG) the only codes out of the 10 leading shares on the market by caitalisation to post gains.
Tan Tao Investment Industry Corp (ITA), with 5.54 million traded, was the most-active share, closing unchanged at 16,300 VND (0.82 USD) per share.
On the Hanoi Stock Exchange, the HNX-Index retreated by 4.29 percent to end the session at 115.43 points. The volume of trades declined by 27 percent to about 57.7 million shares, for a total value of 1.1 trillion VND (55 million USD).
Losses outnumbered gains by 288-43, with 123 codes fell to the floor. Kim Long Securities (KLS) – the most active share nationwide with 7.1 million exchanged – also fell to the floor at 16,100 VND (0.81 USD) at the close.
Foreign investors remained net buyers on both exchanges on Dec. 16, picking up a combined net of almost 120 billion VND (6 million USD). They bought most heavily into financial shares, including Vietinbank (CTG), Vietcombank (VCB), Saigon Securities Inc (SSI) and Bao Viet Securities (BVS)./.
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