VN-Index slides as GAS slumps
VN-Index slides as GAS slumps
Heavy losses suffered by PV Gas (GAS) caused the benchmark VN-Index on the HCM Stock Exchange to slide by 1.15 per cent this morning to close at 572.09.
GAS, the largest stock in term of market value, dropped VND3,500 per share this morning, or 4.05 per cent, to be traded at VND83,000 (US$3.90). Due to steep falls in global oil prices, GAS lost nearly 20 per cent in November. It improved during two sessions early this month, but went on a downward spiral today.
Other blue chips also slumped, such as PetroVietnam Drilling and Wells Service (PVD), down by 4.7 per cent; Hoang Anh Gia Lai Co (HAG), down 1.25 per cent; Saigon Securities Inc (SSI), down 0.65 per cent; and VinGroup (VIC), down 0.21 per cent.
The VN30, which tracks the top 30 shares by market value and liquidity, decreased 0.83 per cent to end at 619.47 points.
Liquidity was modest, with just 63 million shares worth VND1.12 trillion ($52.3 million) being traded on the exchange.
On the Ha Noi Stock Exchange, the HNX-Index also slid 1.4 per cent to finish the morning at 87.38, with a market turnover of VND717 billion ($33.7 million).
KLF Joint Venture Global Investment Co (KLF) was the most active code nationwide, with more than 12 million of its shares being exchanged at VND13,700 each.
The trading will resume at 1pm.
