Stocks opened high in HCM City but lost value by the end of theJune 13 session, dragged down by a slump in large-cap shares.
On the HCM Stock Exchange, the VN-Index fell 0.6 percent to close at515.09 points, while the VN30 tracking the top 30 shares by marketcapitalisation and liquidity was down 0.63 percent to 571.79 points.
Big private sector group Masan (MSN) led the downturn with a 5.2percent loss at 99,500 VND (4.7 USD) a share. This is the fastestdecline MSN has seen during the past six months.
Eximbank (EIB) followed with a 2.6 percent decrease to 14,700 VND (0.7USD). Other shares such as insurer Bao Viet (BVH), real estate developerVingroup (VIC), Vinamilk (VNM) and Phu Nhuan Jewelry (PNJ) droppedbetween 0.7-1.9 percent.
Only one third of the blue chips managed to advance.
More than 62.5 million shares worth over 1 trillion VND (47.6 million USD) were exchanged by the end of the day.
Meanwhile, on the Ha Noi Stock Exchange, the HNX-Index edged 0.5percent up to 65.64 points on a trading value of nearly 621.5 billionVND (29.5 million USD).
The HNX30, which represents the northern bourse's top 30 stocks, put on 0.8 percent to reach 126.63 points.
Ocean Hospitality and Service (OCH), one of the shares tracked by theHNX30, plans to shift from the Hanoi Stock Exchange to the HCM CityStock Exchange this year. The company will also double its chartercapital to 2 trillion VND (95.2 million USD).
Foreign investors shifted to be net sellers on both exchanges by a total margin of 77.5 billion VND (3.7 million USD).
"The resilience of the market is challenged by foreign investorsrestructuring their portfolios," noted FPT Securities analysts.
Meanwhile, benchmark indices were facing strong medium and long-termresistance levels, they added. "The net selling activities of foreignplayers will probably make this decline longer than expected."-VNA
On the HCM Stock Exchange, the VN-Index fell 0.6 percent to close at515.09 points, while the VN30 tracking the top 30 shares by marketcapitalisation and liquidity was down 0.63 percent to 571.79 points.
Big private sector group Masan (MSN) led the downturn with a 5.2percent loss at 99,500 VND (4.7 USD) a share. This is the fastestdecline MSN has seen during the past six months.
Eximbank (EIB) followed with a 2.6 percent decrease to 14,700 VND (0.7USD). Other shares such as insurer Bao Viet (BVH), real estate developerVingroup (VIC), Vinamilk (VNM) and Phu Nhuan Jewelry (PNJ) droppedbetween 0.7-1.9 percent.
Only one third of the blue chips managed to advance.
More than 62.5 million shares worth over 1 trillion VND (47.6 million USD) were exchanged by the end of the day.
Meanwhile, on the Ha Noi Stock Exchange, the HNX-Index edged 0.5percent up to 65.64 points on a trading value of nearly 621.5 billionVND (29.5 million USD).
The HNX30, which represents the northern bourse's top 30 stocks, put on 0.8 percent to reach 126.63 points.
Ocean Hospitality and Service (OCH), one of the shares tracked by theHNX30, plans to shift from the Hanoi Stock Exchange to the HCM CityStock Exchange this year. The company will also double its chartercapital to 2 trillion VND (95.2 million USD).
Foreign investors shifted to be net sellers on both exchanges by a total margin of 77.5 billion VND (3.7 million USD).
"The resilience of the market is challenged by foreign investorsrestructuring their portfolios," noted FPT Securities analysts.
Meanwhile, benchmark indices were facing strong medium and long-termresistance levels, they added. "The net selling activities of foreignplayers will probably make this decline longer than expected."-VNA
