Shares slide on both exchanges, trading rises in PVF
Shares slide on both exchanges, trading rises in PVF
Blue chips drove the Southern stock exchanges up Monday, but their slumps this morning pulled the VN-Index down.
On the HCM City Stock Exchange, the VN-Index gave up 0.34 per cent to close the morning's session at 474.90 points, with the trading value reaching more than VND616 billion (US$29.3 million).
Many of the top 30 shares by market capitalisation and liquidity decreased, which made the VN30 decline 0.59 per cent to 546.99 points.
Among the few gainers, PetroVietnam Finance (PVF) saw busy trading this morning after announcing its plans to merge with Western Bank. Following the plan, PVF will seek VND37 trillion ($1.76 billion) from the State Bank of Viet Nam and its parent company PetroVietnam to provide liquidity to the new bank after the merger.
More than 1.1 million PVF shares were traded this morning at the price of VND11,500 a share, up 1.8 per cent over yesterday's close.
However, Tan Tao Investment Industry (ITA) continued to be the most active stock this morning on trades of 3.9 million shares, rising 2.7 per cent to VND7,700 a share.
The HNX-Index on the Ha Noi Stock Exchange also slid 0.52 per cent to 61.73 points on a turnover of VND301 billion ($14.3 million).
PetroVietnam Construction (PVX) is temporarily leading the market with 5.7 million shares traded, but shares declined 4.8 per cent to VND6,000 a share.
Trading will resume at 1pm
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