VN-Index loses momentum

May 8th at 13:44

08-05-2013 13:44:02+07:00

Increasing caution by investors at the end of this morning's trading made the VN-Index lose momentum, closing down by 0.05 per cent at 485.33 points.

The VN30 tracking the top 30 shares by market capitalisation and liquidity was slightly up 0.08 per cent at 550.03 points.

Market value was more than half of yesterday's total, reaching more than VND471 billion (US$22.4 million).

Only three codes saw trades of more than 1 million shares, including Tan Tao Investment Industry (ITA) and telecommunication equipment manufacturer Sacom Investment Development (SAM).

Each had more than 1.7 million shares traded. PetroVietnam General Services (PET) traded 1.1 million shares.

ITA declined 2.9 per cent at VND6,700 a share while SAM rose 2.8 per cent to VND7,400 and PET jumped 4.4 per cent at VND19,000.

Meanwhile, the HNX-Index on the Ha Noi Stock Exchange sank into the red for most of the morning, losing 0.84 per cent at 60.03 points.

Trading was sluggish with just 17 million shares, worth more than VND121 billion ($5.8 million), changing hands.

Trading on the four most speculative stocks on the northern bourse, PetroVietnam Construction (PVX), Sacomreal (SCR), Sai Gon-Ha Noi Bank (SHB) and Kim Long Securities (KLS), continued to dominate the market with each share seeing from one to three million shares exchanged. Most of them declined in value.

Trading will resume at 1pm.

vietnamnews