Not a Good Friday for the market

April 22, 2011 | 15:15

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Investors started cashing in on the Hanoi Stock Exchange (HNX) Friday helping to increase liquidity.

The HNX-Index declined for the 10th straight session today, down 0.29 points (0.34 per cent) to 83.92 points. Trading volumes strongly increased in the session’s end to 28 million shares, up 21 per cent against yesterday.

Value was up 21 per cent as well to VND361.13 billion ($17.46 million).

VnDirect Securities (VND) and Kim Long Securities (KLS) were the most active stocks, with more than two million units changing hands.

Several major stocks were strongly traded, among them Bao Viet Securities (BVS), Saigon-Hanoi Bank (SHB) and the real estate Vinaconex (VCG).

Overall, 204 stocks fell and 66 up. Some 111 stocks ended flat.

Trading values continued declining on the Ho Chi Minh Stock Exchange (HoSE). Volumes were little changed at 23.57 million shares, with value slightly down to VND448.9 billion ($21.68 million).

As inflation looms, cash-flows are moving from the stock market to more safe investment channels. Even large brokerages recommend clients step aside from the market until macroeconomic situation improves.

The benchmark VN-Index lost 3.85 points (0.84 per cent) to 456.45 points as a mass of blue-chips dropped.

Vietinbank (CTG) plunged 3.51 per cent, Vietcombank (VCB) shed 1.4 per cent and Sacombank (STB) off 0.74 per cent. Saigon Securities Inc. (SSI) lost 2.03 per cent

Hoang Anh Gia Lai (HAG), Quoc Cuong Gia Lai (QGC) and Tan Tao Investment Industry Corp. (ITA) strongly dropped.

At the close, 196 stocks ended lower, 46 were up and 47 unchanged on the southern bourse.

By Hai Linh

vir.com.vn

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