Shares retreated on July 19 from July 18's modest rally on the HCMStock Exchange, while stocks on the Hanoi exchange tumbled for afifth consecutive session.
ACB Securities Co'sanalyst Ho Ba Tinh said the stock market was weakening significantly."The expectation that interest rates would fall has been shaken," Tinhsaid.
Meanwhile, officials from the Ministry ofFinance's price management unit have hinted that inflation figures to bereleased for July would indicate a sharp increase.
Stock trading, as a consequence, was sluggish, with the value of tradeson the HCM City market reaching only 274.9 billion VND (13.3 millionUSD) on a volume of 16.7 million shares – a 21 percent decrease in valueand a 14 percent decrease in volume from the previous session and thelowest market value in the past 50 days.
Accordingly, the VN-Index dived 1.4 percent to close at 410.12 points, with over half of listed stocks losing ground.
Blue chips failed to sustain the VN-Index, as food producer MasanGroup (MSN), bottomed out and insurer Bao Viet Holdings (BVH), propertydevelopers Hoang Anh Gia Lai (HAG) and Vincom (VIC), PetroVietnamFinance (PVF) and Sacombank (STB) all tumbled.
Shares of BIDV Securities Co (BSI) saw their first day of trading on theHCM Stock Exchange, closing at 10,900 VND, up from its reference priceof 10,300 VND.
BSI plans to increase its charteredcapital in the fourth quarter from 865 billion VND to 1.2 trillion VNDand will sell a 10-per-cent stake to strategic partners. It has targeteda net profit of 9.5 billion VND (461,200 USD) this year, off from 11.43billion VND (554,850 USD) in 2010.
Shares ofengineering company COMA 18 (CIG) also saw their first day of trading,closing at 10,800 VND, a decline from the 13,500 VND reference price.CIG, with a charter capital of 120 billion VND (5.8 million USD), posteda net profit last year of 16.5 billion VND, expected to rise this yearto 51 billion VND (2.5 million USD).
On the Ha NoiStock Exchange, the HNX-Index lost another 0.4 percent to conclude thesession at 70.74. The value of trades reached only 192.4 billion VND(9.3 million USD) on a volume of just 19 million shares. Losersoutnumbered gainers by 155-78.
PetroVietnamConstruction Corp (PVX) was the most-active share nationwide, with 1.8million traded, followed by Kim Long Securities Co (KLS) with a volumeof 1.7 million shares and VNDirect Securities Co (VND) with 1.3 millionshares traded. These three shares together accounted for 25 percent ofthe total volume on the northern exchange. /.
ACB Securities Co'sanalyst Ho Ba Tinh said the stock market was weakening significantly."The expectation that interest rates would fall has been shaken," Tinhsaid.
Meanwhile, officials from the Ministry ofFinance's price management unit have hinted that inflation figures to bereleased for July would indicate a sharp increase.
Stock trading, as a consequence, was sluggish, with the value of tradeson the HCM City market reaching only 274.9 billion VND (13.3 millionUSD) on a volume of 16.7 million shares – a 21 percent decrease in valueand a 14 percent decrease in volume from the previous session and thelowest market value in the past 50 days.
Accordingly, the VN-Index dived 1.4 percent to close at 410.12 points, with over half of listed stocks losing ground.
Blue chips failed to sustain the VN-Index, as food producer MasanGroup (MSN), bottomed out and insurer Bao Viet Holdings (BVH), propertydevelopers Hoang Anh Gia Lai (HAG) and Vincom (VIC), PetroVietnamFinance (PVF) and Sacombank (STB) all tumbled.
Shares of BIDV Securities Co (BSI) saw their first day of trading on theHCM Stock Exchange, closing at 10,900 VND, up from its reference priceof 10,300 VND.
BSI plans to increase its charteredcapital in the fourth quarter from 865 billion VND to 1.2 trillion VNDand will sell a 10-per-cent stake to strategic partners. It has targeteda net profit of 9.5 billion VND (461,200 USD) this year, off from 11.43billion VND (554,850 USD) in 2010.
Shares ofengineering company COMA 18 (CIG) also saw their first day of trading,closing at 10,800 VND, a decline from the 13,500 VND reference price.CIG, with a charter capital of 120 billion VND (5.8 million USD), posteda net profit last year of 16.5 billion VND, expected to rise this yearto 51 billion VND (2.5 million USD).
On the Ha NoiStock Exchange, the HNX-Index lost another 0.4 percent to conclude thesession at 70.74. The value of trades reached only 192.4 billion VND(9.3 million USD) on a volume of just 19 million shares. Losersoutnumbered gainers by 155-78.
PetroVietnamConstruction Corp (PVX) was the most-active share nationwide, with 1.8million traded, followed by Kim Long Securities Co (KLS) with a volumeof 1.7 million shares and VNDirect Securities Co (VND) with 1.3 millionshares traded. These three shares together accounted for 25 percent ofthe total volume on the northern exchange. /.
