The Ho Chi Minh City bourse was deeper in the red, with the VN-Index falling by 14.60 points to 1012.98.
Hanoi’s HASTC-Index lost 2.04 points to close at 392.09.
Of 109 stocks listed in HCMC, 87 lost while only 11 gained.
However, volume increased by 14.6% to 4.17 million shares and turnover increased by 2% to VND541 billion (US$34 million) over the previous day.
Analysts said the sharp decline in many stocks had brought in bargain buyers to push up volumes.
The losers’ list included major blue chips like FPT, SJS, REE, STB and VNM, all of which lost less than 4 percent.
IT developer, FPT overtook REE to lead the market in term of trading value of VND81 billion, accounting for 14.9 percent of the total market.
The two mutual funds PRUBF1 and VFMVF1 fell by VND200 and VND900 to VND14,000 and VND33,200.
Foreign investors were again net buyers, snapping up 1.42 million shares worth VND207 billion.
Dang Van Thanh, chairman of Sacombank, said the government was taking measures to cool the market, which was a good sign.
The key reason behind the falling stock market included increasing supply from listed firms and from big corporations that will go public this year, according to Thanh.
Meanwhile, the An Binh Commercial Joint Stock Bank (AB Bank) announced a new loan scheme with listed stocks as collateral. To borrow under YOUstock, customers should also have an account with the An Binh Securities Company or another brokerage recognized by the bank.
The maximum loan amount is set at VND15 billion. Customers can borrow up to 50% of the total value of shares, and no more than five times the combined face value, with a lending period of 12 months.
Source: Thanh Nien
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment