Bank shares fall, dragging down VN-Index
Bank shares fall, dragging down VN-Index
Shares opened low this September 28 morning on both exchanges, with bank shares among the largest losers.
On the HCM City Stock Exchange, the VN-Index fell 0.44 per cent to 391.62 points on a total value of almost VND423 billion (US$20.1 million).
Most bank and financial shares slumped this morning, with Vietinbank (CTG), Military Bank (MBB), Vietcombank (VCB), Sacombank (STB) and PetroVietnam Finance (PVF) falling 0.8-1.3 per cent. Only Eximbank (EIB) rose 1.4 per cent.
Other blue chips also declined, driving the VN30, which tracks the top 30 shares by market capitalisation and liquidity, down 0.53 per cent to 455.94 points.
No shares saw trades in excess of 1 million shares and Tan Tao Investment Industry Corp (ITA) with 563,000 shares changing hands became the most active code this morning. ITA closed flat at VND4,500.
On the Ha Noi Stock Exchange, the HNX-Index lost another 0.55 per cent to 55.59 points as decliners outnumbered advancers by 94-46 while the remaining 253 codes closed unchanged.
Trading was still weak as just 10.7 million shares worth VND93 billion ($4.4 million) were traded.
PetroVietnam Construction (PVX) was the only share with trades in excess of 1 million exchanged, and was the most active code, but shares closed off another 2.2 per cent to VND4,500 a share
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