Week ends on a sour note

July 29, 2011 | 15:48

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Ho Chi Minh City stock market significantly declined Friday on a very weak market sentiment despite support from some blue-chips.

The benchmark VN-Index lost 2.69 points or 0.66 per cent to 405.7 points.

Up to 131 stocks fell on the northern bourse, among them several major stocks. Vincom Corp. (VIC), Hoang Anh Gia Lai (HAG) and Kinhbac City Development Share Holding Corp. (KBC) lost more than 3 per cent each.

Saigon Securities Inc. (SSI), PetroVietnam Drilling and Well Services (PVD) and PetroVietnam Finance (PVF) shed from 1 to 2 per cent.

Kinh Do Corp. (KDC), Masan Group (MSN) and Vietcombank (VCB) also slightly eased back.

Liquidity was week at 18.9 million shares worth VND370.26 billion ($18.06 million). Put-through volumes were lower than yesterday, reaching 3.31 million shares worth VND67.7 billion ($3.3 million).

However, a supportive power from foreigners suddenly appeared at the session’s end as they significantly bought blue-chips at high prices.

PetroVietnam Fertilisers (DPM) led those gainers adding 2.5 per cent. Vinamilk (VNM) advanced VND1,000 or 0.88 per cent to VND115,000.

Vietinbank (CTG), FPT Corp. (FPT) and Hoa Phat Group (HPG) slightly climbed contributing to market support.

Sacombank (STB) and FPT saw more than one million shares traded today, strongly outperformed the other major stocks.

Hanoi Stock Exchange (HNX) fell 0.4 points or 0.57 per cent to 69.55 points. Decliners overwhelmed advancers 175 to 66.

Liquidity slightly improved to 22.3 million shares worth VND235.7 billion ($11.49 million), helped by put-through volume raising to more than four million shares worth VND43.5 billion ($2.12 million). Foreigners also raised their buying on the bourse today.

By Hai Linh

vir.com.vn

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