Decline continues on both bourses

Decline continues on both bourses

Shares decreased slightly on both national stock bourses yesterday afternoon.

On the HCM City Stock Exchange, the VN-Index lost 0.06 per cent to finish the day at 494.53 points.

More than 53.52 million shares changed hands with a total value of VND841.47 billion (US$40 million), 25 per cent lower than Thursday's trading session.

Despite the VN-Index dropping, the VN30-Index, tracking the southern city's top shares in terms of capitalisation and liquidity, gained 0.05 per cent to reach 552.16 points.

Losers overwhelmed gainers by 9-7. However, with higher increasing rates, gainers succeeded to raise the VN-Index yesterday.

Especially, Gemadebt Corporation (GMD), a logistic company, gained 2.7 per cent to reach VND26,700 ($1.27) per share and Vietcombank (VCB) was 0.15 per cent higher at VND28,800 ($1.7).

Meanwhile nine stocks lost between VND100 and VND200 per share.

On the Ha Noi Stock Exchange, the HNX-Index slid 0.17 per cent to finish at 60.63 points with a total value of VND181.86 billion ($8.66 million) on an exchange of 22.85 million shares.

The HNX-Index, representing the capital city's leading shares, was 0.35 per cent lower at 112.47 points.

Foreign investors continued to conclude the day as net buyers with a value of VND70.39 billion ($3.35 million).

According to Alan T. Phan, economist at VinaCapital Group, as quoted by Dau Tu Chung Khoan, Viet Nam's stock market was among the top five markets in terms of investment attractiveness in the world despite the trend that investors were withdrawing capital from emerging markets.

From the beginning of this month, foreign capital flow into Viet Nam's stock market showed improvements with foreign investors remaining net buyers.

Investors were also awaiting news on regulations that would increase room for foreign investors in securities and banking sectors.

According to an analysts at BIDV Securities, in the first nine months of this year, investors tended to shift their investments to bluechips with good business results.

The company pointed out that in the top 20 shares, which included shares with growth rates of 30 per cent and daily average trading volumes of more 80,000 shares from the same period last year, only PetroVietnam Fertiliser and Chemicals Corporation (DPM) were bluechips.

However, there were six bluechips in the list of the first nine months this year, including GAS, PPC, PVD, HPG, REE and VNM.

vietnamnews