Business

Shares stall on sluggish volumes

The VN-Index closed up a modest 0.13 percent Sept. 22 to 453.9 points, while the volume of trade on the HCM Stock Exchange declined by a whopping 42 percent from the previous day's level to just 33.3 million shares, worth a combined 907 billion VND (46.5 million USD).
The VN-Index closed up a modest 0.13 percent Sept. 22 to 453.9 points,while the volume of trade on the HCM Stock Exchange declined by awhopping 42 percent from the previous day's level to just 33.3 millionshares, worth a combined 907 billion VND (46.5 million USD).

Decliners outnumbered advancers by 105-80, but a number of blue chipsmanaged gains, including Bao Viet Holdings (BVH), Vietcombank (VCB), PhuMy Fertiliser (DPM), Hoa Phat Group (HPG), Kinh Bac City Development(KBC), Kinh Do Corp (KDC) and PetroVietnam Finance (PVF).

Ocean Group (OGC) continued as the most-active share on the exchange,although volume retreated to just 2.33 million shares, a decrease ofnearly 84 percent. OGC shares, meanwhile, dropped to their floor priceof 35,800 VND (1.85 USD)) per share.

On the Hanoi Stock Exchange, the HNX-Index closed largely unchanged at 131.53.

About 26 million shares changed hands, worth 655 billion VND (33.6million USD) – a decrease of about 35 percent in both volume and valuefrom the previous day's levels, while losers outnumbers advancers by176-99.

PetroVietnam Construction (PVX) continued as the most-active share on the northern bourse, with 2.1 million traded.

The gold market continued to draw investor attention, with thedomestic gold price hitting a new record high of 30.26 million VND(1,552 USD) per tael on on Sept. 22, up 180,000 VND from a day earlier(a tael is equivalent to 1.2 ounces). The world gold price, meanwhile,topped 1,290 USD) per ounce overnight.

Foreign investors were net buyers on both bourses on Sept. 22, picking up 65.7 billion VND (3.4 million USD) worth of shares./.
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