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Shares slide on slow buying   2011-10-07 - VNS

Shares continued their downward spiral after a short rebound yesterday on Viet Nam's stock market, with both indices losing value this morning.

On the HCM Stock Exchange, the VN-Index declined 0.8 per cent to finish today on 417.96 points. Market value decreased over 20 per cent to only VND513.6 (US$24.7 million), 32.4 million shares changing hands.

Losers overwhelmed gainers by 125-87, led by the slump of blue chips.

Food processor Masan Group (MSN), one of the 10 largest shares led by market capitalization, dropped to the floor while both property developer Vincom (VIC) and Hoang Anh Gia Lai (HAG) declined 1.6 per cent, others closing down by less than 1 per cent.

Becamex Infrastructure Development Co (IJC) shares, with nearly 2.7 million having changed hands, continued to be the most active stock in HCM City today, hitting the ceiling price of VND12,700 ($0.61) for the second day in a row.

On the Ha Noi Stock Exchange, the HNX-Index lost over 0.8 per cent to finish today's session on 71.50 points. Today's trades were sluggish with only VND322 billion ($15.5 million) or 31.4 million shares traded.

Decliners inched up advancers by 161-89.

Kim Long Securities (VND) reclaimed its position as the most active stock on the Ha Noi bourse today with 3.2 million shares traded, closing today unchanged at VND11,700 ($0.56).


Other Financial News

VN Index on the rise, securities investors coming back   2011-09-11

Stock market sees massive layoffs   2011-08-29

Shares up on signs of easier credit   2011-08-23

VN-Index sinks to near 30-month low   2011-08-01

Bank Directory

State firms told to reduce non-core investment operations   2011-06-28

SSC says no action needed to rescue stock market now   2011-05-27

Lackluster market forces securities companies to close branches   2011-05-22

Securities companies getting bogged down in losses   2011-05-18

Stock market dysfunctions as fund-raising channel   2011-05-04

Nearly 200 stocks traded below VND10,000   2011-03-17

Listed firms post fourth-quarter losses   2011-02-13

Specific blue chips underpin market rise   2011-01-21

Markets skittish over inflation   2010-12-27

Markets skittish over inflation   2010-12-27