Unattractive indices blight bourses

Oct 10th at 13:34

10-10-2013 13:34:03+07:00

Low demand for large shares dragged down the indices on both stock exchanges yesterday.

On the HCM City Stock Exchange, the VN-Index lost 0.31 per cent to reach 500.67 points. Losers overwhelmed gainers by 111-88.

Trading value dropped about 15 per cent over Tuesday's trading session to VND953.57 billion (US$45.4 million) on a volume of 64.4 million shares.

The VN30-Index, tracking the city's top 30 shares in terms of capitalisation and liquidity, also shed 0.33 per cent to close at 556.72 points.

Five codes added value, including Viet Nam Milk Company (VNM) up 1.5 per cent to VND140,000 ($6.6) per share.

More than 1.09 million shares were exchanged; not enough to support the index because up to 19 codes lost value.

Especially, Vietinbank (CTG) shed 1.7 per cent to reach VND35,900 ($1.7) per share and Becamex IJC (IJC) tumbled nearly 4 per cent to VND7,900 ($0.37) per share.

On the Ha Noi Stock Exchange, the HNX-Index finished 0.11 per cent lower from the previous day to reach 61.16 points. Trading value and volume totalled VND209.55 billion ($9.98 million) and more than 26.3 million shares, respectively.

The HNX30-Index, composing the capital city's leading shares, was 0.45 per cent lower at 114.02 points.

PetroVietnam Construction (PVX) yesterday increased to its ceiling price of VND2,400 per share with 2.81 million shares traded, leading in liquidity on the capital city's bourse, however.

Foreign investors continued to finish the day as net buyers with a total value of VND22.4 billion ($1.06 million).

According to FPT Securities, rising anxiety over the US budget deadlock continued to impact on investors' sentiment.

The company urged investors to be cautious about their buying decisions and to choose stocks with promising growth in the remaining months of the year.

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