VN Index falls amid rapid sell-off
VN Index falls amid rapid sell-off
The southern and northern bourses finished transactions yesterday in different directions as investors tried to sell shares to take quick margins.
The VN-Index decline was attributed to growing profit-tracking selling pressures, which sank the market to a daily low.
In the HCM City Stock Exchange (HOSE), the VN-Index lost 0.23 per cent to end the day at 485.11 points, sliding from its highest point since August 28, according to FPT Securities.
In the HOSE, advancers still overwhelmed losers by 100-73 and 131 closed unchanged.
The southern market saw more than 49.7 million shares worth VND821 billion (US$39.1 million) changing hands. This was lower than the volume of the previous session, where 80.4 million shares valued at VND1.025 trillion ($49million) were exchanged.
The VN30-Index closed unchanged at 545.83 with 13 advancers, nine decliners and eight unmoved.
Market volume was down 40 per cent from the previous day to 50 million shares.
Tan Tao Investment and Industry Corporation (ITA) was the most active share with 3.3 million trades, ending at VND5,900 per share. PetroVietnam Transportation (PVT) came second in the market with 2.8 million shares changing hands.
An Duong Thao Dien Real Estate Trade JSC (HAR) slipped 1.7 per cent to end at VND5,800 on trades of 2.4 million shares.
Stocks on the Ha Noi Stock Exchange managed to extend their winning run to six days, keeping the market benchmark HNX-Index at a two-week high for another day, as traders increased buying amid profit-taking selling.
The HNX-Index slightly rose 0.1 per cent to close at 60.32. The northern bourse saw 21.2 million shares worth VND167.2 billion ($7.96 million) changing hands.
The HNX 30 Index, composed of the bourse's top 30 stocks in term of capitalisation and liquidity, dropped 0.05 per cent to end at 111.95 points.
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