Stock indices continue to decline

Blue chips tumbled on Oct. 12 on the HCM Stock Exchange, despite a rise overnight in the US stock market, dragging the VN-Index down 1.09 percent to close at 454.32.
Blue chips tumbled on Oct. 12 on the HCM Stock Exchange, despite a rise overnight in the US stock market, dragging the VN-Index down 1.09 percent to close at 454.32.

The volume rose 28.5 percent over the previous day to 28.3 million shares while the value increased by 22 percent against Oct. 11 to 683.8 billion VND (35.1 million USD).

Decliners outnumbered advancers by 185-30, with nine out of the 10 largest capitalised shares declined. Only insurer Bao Viet Holdings (BVH) remained unchanged.

The vast majority of the gainers were mid-cap and penny stocks, including Ben Tre Aquaproduct Import and Export (ABT), Cuu Long Fish (ACL), Godaco Seafood (AGD), Agribank Securities (AGR), logistics Gemadept (GMD), HCM City Metal (HMC) and Tay Bac Minerals Investment (KTB).

Ocean Group (OGC) reclaimed the position of most active stock with 1.46 million shares changing hands, but it slid nearly 2 percent to close at 29,500 VND (1.51 USD) per share.

On the Hanoi Stock Exchange, the HNX-Index fell by 1.2 percent to close at 119.81, a fourth successive day of loss.

Market volume advanced by 25 percent over Oct. 11 to 23.1 million shares worth 526.1 billion VND (27 million USD), but losers still largely outnumbered gainers by 238-51.

Blue-chips tumbled and of the 10 leading shares by capitalisation, only Asia Commercial Bank (ACB) closed unchanged.

PetroVietnam Construction (PVX) was still the most active with 2.4 million shares changing hands, closing down 1.35 percent to an average of 21,900 VND (1.12 USD) per share.

Foreign investors picked up a net buy of 35 billion VND (1.8 million USD) worth of shares on Oct. 12 on both exchanges./.

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