Shares slump as decliners dominate

Investors at BIDV Securities Company's trading floor. - VNS Photo Truong Vi

On the HCM City Stock Exchange, the VN-Index fell 0.51 per cent to finish at 574.81 points.

Transaction value fell by 15 per cent compared to Thursday at VND1.7 trillion (US$79.8 million).

The VN30 Index, tracking the city's top 30 blue chips, shed 0.47 per cent to close at 614.72 points, as decliners outnumbered advancers by 16 to 8.

The most notable mover yesterday was furniture company Duc Long Gia Lai (DLG), which rose nearly 5.5 per cent with more than 9.5 million shares exchanged.

Property developer FLC Group (FLC) was the most active code, with almost 15.3 million shares changing hands. It edged up 0.9 per cent following chairman Trinh Van Quyet's announcement that the group's profits this year were likely to hit VND1 trillion ($46.9 million), thanks to the sale of a series of realty projects. He added that the estimated profit for last year was VND400 billion ($18.8 million).

Ranking behind FLC in liquidity were Kim Long Securities (KLS), HAI Agrochem (HAI), Saigon – Hanoi Securities (SHS) and Vietnam Construction and Import Export (VCG), with a combined volume of 11.6 million shares.

Vietcombank (VCB) yesterday also announced it achieved a gross profit of 5.68 trillion ($266.7 million) last year, rising 2 per cent over 2013 and exceeding the target by 7 per cent. However, the stock failed to add value, dropping 1.4 per cent.

On the Ha Noi Stock Exchange, the HNX-Index lost 0.62 per cent to finish at 85.35 points with a total turnover of VND726.4 billion ($34.1 million).

The HNX30 Index, tracking the northern bourse's 30 leading stocks, fell 0.53 per cent to 167.07 points.

However, foreign investors finished as net buyers by VND63.2 billion ($2.9 million).