Business

Shares slump as decliners dominate

Shares continued to fluctuate this week, and closed down on both bourses on January 16.
Shares continued to fluctuate this week, and closed down on both bourses on January 16.

On the Ho Chi Minh Stock Exchange, the VN-Index fell 0.51 percent to finish at 574.81 points.

Transaction value fell by 15 percent compared to the previous day at 1.7 trillion VND (79.8 million USD).

TheVN30 Index, tracking the city's top 30 blue chips, shed 0.47 percent toclose at 614.72 points, as decliners outnumbered advancers by 16 to 8.

The most notable mover during the day was furniturecompany Duc Long Gia Lai (DLG), which rose nearly 5.5 percent with morethan 9.5 million shares exchanged.

Property developerFLC Group (FLC) was the most active code, with almost 15.3 millionshares changing hands. It edged up 0.9 percent following chairman TrinhVan Quyet's announcement that the group's profit this year is likely tohit 1 trillion VND (46.9 million USD), thanks to the sale of a series ofrealty projects. He added that the estimated profit for last year was400 billion VND (18.8 million USD).

On the Hanoi StockExchange, the HNX-Index lost 0.62 percent to finish at 85.35 points witha total turnover of 726.4 billion VND (34.1 million USD).

The HNX30 Index, tracking the northern bourse's 30 leading stocks, fell 0.53 percent to 167.07 points.

However, foreign investors finished as net buyers by 63.2 billion VND (2.9 million USD)./.
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