Stocks decline following heavy sell-offs

Stocks decline following heavy sell-offs

Stocks fell on both of the country's markets with increased mid-session sell-offs on Feb. 10.

In HCM City, the VN-Index fell 0.45 per cent to 520.23 points.

Trading volume reached 31.6 million shares, worth VND796.4 billion ($37.9 million).

About 129 stocks lost ground, with timber producer Duc Long Gia Lai Group (DLG) falling the most by 5 per cent to VND26,600; followed by fund certificate VFMVFA, down 5 per cent to VND7,600 and Lu Gia Mechanical Electric Company (LGC), down 4.92 per cent to VND30,900.

Many blue chips lost ground, including major influential stocks such as Bao Viet Holdings (BVH), down 2.1 per cent, Masan Group (MSN), down 1.7 per cent and PetroVietnam Finance (PVF), down 14.1 per cent due to the ex-date for dividend payment.

Banking stocks posted a slight fall after rising sharply 2 days ago.

Finance conglomerate Ocean Group (PGC) was the only blue chip to post a slight gain of 0.4 per cent.

Meanwhile, a number of penny stocks managed to make gains. Viet Nam-Italy Steel (VIS) was up 4.9 per cent, Imexpharm Pharmaceutical (IMP), up 4.84 per cent, Binh Duong Trade and Development (TDC), up VND4.8 per cent and Petroleum Equipment Assembly and Metal Structure (PXS), up 4.76 per cent.

Tan Tao Industrial Park (ITA) was the most active stock, with 4.6 million shares traded.

In Ha Noi, the HNX-Index fell 0.66 per cent to 107.67 points.

Volume was low with 17.5 million shares changing hands, worth VND340.5 billion ($16.2 million). VNDirect Securities (VND) continued to be the most heavily traded stock, with 2.3 million shares.

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