Blue chips weigh on markets
Blue chips weigh on markets
Shares extended Tuesday's losses, closing down on both national stock exchanges 13 November following heavy sales of blue chips.
On the HCM City Stock Exchange, the VN-Index lost 0.3 per cent to close at 496.12 points.
The VN30, representing the performance of the bourse's 30 largest shares, slid 0.36 per cent to 553.09 points as most of its stocks closed in the red or unchanged from yesterday's session.
Only three of the blue chips managed to rally, while selling orders overwhelmed the market.
The overall value of trades reached only 56.7 per cent of Tuesday's level to VND834 billion (US$39.3 million) on a volume of about 64.5 million shares.
Decliners outnumbered advancers by 118-81.
On the Ha Noi Stock Exchange, the HNX-Index also shed 0.3 per cent to reach 63.65 points. Losers outstripped gainers by 106-73.
With 36 million shares changing hands, trades fetched more than VND260.1 billion ($12.2 million), declining 43 per cent over the previous session.
The HNX30, composed of the northern exchange's 30 leading shares, fell 0.6 per cent to end the day at 119.38 points.
On the bond market yesterday, the Ha Noi Stock Exchange auctioned VND5 trillion ($235.8 million) worth of Government bonds issued by the State Treasury and sold over VND3.15 trillion ($148.5 million).
The bonds' terms are two years, three years, five years and 15 years and annual yields range from 7.4-9 per cent.
The State Treasury has raised VND128.36 trillion ($6 billion) from bonds so far this year.
The corporate bond market is also warming up as State-run corporations prepare issuance worth trillions of dong.
Bao Viet Securities Co analysts predicted bond yields would continue to rise if 17 more auctions were held as expected.
Foreign investors concluded yesterday's session as net sellers on both bourses by a margin of VND20.4 billion ($962,200).
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