Week gets off to shaky start

October 17, 2011 | 15:00

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Both the two bourses slipped Monday due to weakening investors’ nerves.

The VN-Index of Ho Chi Minh Stock Exchange (HoSE) lost 3.65 points or 0.88 per cent to close at 410.84 points. As many as 163 stocks declined against 45 advancing, while 94 ended flat.

The Hanoi Stock Exchange’s (HNX) HNX-Index skidded 0.73 points or 1.06 per cent to 68.46 points. Some 154 stocks ended lower with 44 hitting the floor, compared with 61 up.

Growing exchange rate risks, accompanied by existing interest rate and banking liquidity problems continued weighing on the local market, strongly discouraging investors.

The total volume of the HoSE stood at 26 million shares worth VND442.6 billion ($21.6 million) today, with he put-through volume making up 5.3 million shares worth VND144 billion ($7 million).

Liquidity was low at 26 million shares worth VND251.5 billion ($12.3 million) on the HNX.

Several major stocks including Vinamilk (VNM), PetroVietnam Fertilisers (DPM), Saigon Securities Inc. (SSI) and FPT Corp. (FPT) significantly fell back.

Vinpearl Tourism and Trading (VPL) and Tay Bac Minerals Investment (KTB) sharply declined. Meanwhile, pillar stocks Bao Viet Holdings (BVH) and Masan Group (MSN) modestly gained market support.

Banking shares and securities company shares tumbled on the HNX. Habubank, Saigon-Hanoi Bank and Asia Commercial Bank (ACB) lost 3-4 per cent. Major stocks Kim Long Securities (KLS), VnDirect Securities (VND) and Bao Viet Securities (BVS) strongly dropped 3-4 per cent as well.

By Hai Linh

vir.com.vn

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