HA NOI — Accelerated sales extended the gloom on the nation's stock exchanges by another day, with the VN-Index shedding an additional 1.5 per cent to close at 426.89 points.
The volume of trades rose 17.3 per cent over Monday's session to 34.5 million shares, worth a total of VND726.1 billion (US$34.6 million).
Sell orders accounted for 77 per cent of total trading orders on the HCM City Stock Exchange yesterday, causing 196 listed stocks to decline.
Software firm CMC (CMG), Ngo Han Corporation (NHW) and Petrolimex International Trading (PIT) were among the shares dipping to the bottom of the regulated trading band of 5 per cent.
Major shares also declined, including financial conglomerate Ocean Group (OGC), down 4.11 per cent; Vietinbank (CTG), down 3.17 per cent; and insurer Bao Viet Holdings (BVH), down 3.15 per cent
"While it can be constrasted with heavy profit-taking, we still saw some bottom-catching," said Nguyen Ngoc Thang, a Ha Noi broker, pointing to rallies in shares of Quoc Cuong Gia Lai (QCG), up 4.87 per cent; Sacombank Securities Co (SBS), up 4.8 per cent; Bao Minh Insurance (BMI), up 4.58 per cent; and Vinafco (VFC), up 4.51 per cent.
"The stronger buys will appear when the VN-Index reaches the 420-mark in a couple of days," Thang said.
On the Ha Noi Stock Exchange, the HNX-Index declined by a little over a per cent to close at 97.44 points, with loser outnumbering gainers by more than five-to-one. However, market value was up modestly over Monday's session, totalling 26.9 million shares and generating a value for the day of VND457.1 billion ($21.8 million).
Sacomreal (SCR) claimed the position as the most-active share, with nearly three million traded.
An inflation estimate issued yesterday by the National Centre for Socio - Economic Information and Forecasting suggested that the consumer price index would continue to rise significantly in November.
"If that's the case, securities investment won't be a good option," commented Nguyen Thanh Quang, a member of an online investor forum.Source: vnagency.com.vn
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