Business

Trades sustain sluggish market

Active negotiated trades helped the VN-Index stave off losses on Oct. 28 to close essentially unchanged at 450.07 points.
Active negotiated trades helped the VN-Index stave off losses on Oct. 28 to close essentially unchanged at 450.07 points.

Market observers noted that 59 out of 89 successful negotiated orderson the HCM Stock Exchange on Oct. 28 matched share ceiling prices.

This helped some blue chips post modest gains, including Sacombank(STB) – the most active share yesterday with 1.7 million traded – MasanGroup (MSN), Eximbank (EIB), and software giant FPT.

Meanwhile, penny stocks generated solid demand, with Thuan Thao Corp(GTT) rising by 4.95 percent, Cat Loi Co (CLC) up 4.88 percent, and DaNang Construction Building Material and Cement (DXV) rising by 4.85percent.

The overall volume of trades remained inthe doldrums, however, with just over 23 million shares changing hands,worth a paltry 580.3 billion VND (29.8 million USD).

Foreign investors remained net buyers on the HCM City market, pickingup a net of 2.6 million shares worth of 88 billion VND (4.5 millionUSD), and were net buyers by value at Hanoi of 40 million VND (2,000USD) worth of shares.

On the Hanoi Stock Exchange,the HNX-Index fell for a second day, closing off over 0.9 percent to111.51 points, on a meagre volume of only 15.2 million shares.

The value of the day's trades dropped to only 315 billion VND (16.2million USD), a far cry from Oct. 27's 488 billion VND (25 million USD)./.
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