Week finishes on a poor note

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Trading values hit VND490.86 billion ($23.7 million) with 23.3 million shares active the on Ho Chi Minh Stock Exchange (HoSE), the lowest level since this year’s beginning. Values on the Hanoi Stock Exchange (HNX) hit record lows as well of some VND336 billion ($16.2 million).

The shares buyers largely bided at lower prices than the sellers offered, which strongly pushed down the trading volume, according to Au Viet Securities.

Looming high inflation caused by sharp increases in petrol prices and essential commodities continued weighing on the local market.

On the southern bourse, the VN-Index fell to 459.17 points today, down 1.96 points or 0.43 per cent.

Small-cap and mid-cap stocks largely dropped on the weak business performance of listed enterprises, led by Electronics Communications Corp. (ELC), Cotec Construction JSC (CTD) and Hau Giang Pharmaceutical JSC (DHG).

Numerous real estate shares were among the top losers.

A mass of major stocks were off, with Saigon Securities Inc. (SSI), Bao Viet Holding (BVH), Hoang Anh Gia Lai (HAG) and Sacombank (STB) losing the most.

At the close, 122 stocks declined on the southern bourse, 79 advanced and 87 ended flat. Some 14 hit the floor and 9 hit the ceiling.

Hanoi Stock Exchange sunk into the red with 176 stocks falling down, nearly doubling the 100 gainers. The benchmark HNX-Index lost 0.42 points or 0.46 per cent to 91.05 points.

Production sector led the declining shares like in HoSE, with Ha Giang Mineral and Mechanics JSC (HGM), Lamdong Foodstuffs JSC (VDL) losing the most. Real estate shares also largely fell.

Almost all major shares saw a negative session, with VnDirect Securities (VND), Bao Viet Securities JSC (BVS), Vinaconex (VCG), PetroVietnam Northern Gas (PVG) strongly dropping.

Habubank (HBB) was off, while Asia Commercial Bank (ACB) climbed.