Shares plunge as investors stay away

Thursday, Jul 11, 2013 12:18

HA NOI - Investors continued to stay away from the market, driving shares down on both national stock exchanges this morning.

The benchmark VN-Index on the HCM City Stock Exchange lost another 0.21 per cent to stand at 483.39 points while the VN30 tracking the top 30 shares by market capitalisation and liquidity was down 0.2 per cent at 537.90 points.

The market was propped up by several blue chips. Saigon Securities Inc (SSI) climbed 2.3 per cent while Hoang Anh Gia Lai Group (HAG), Sacombank (STB), Southern Rubber Industry (CSM) and Phu Nhuan Jewelry (PNJ) rose just 0.3-0.6 per cent.

Value of trades was just half of yesterday's level, reaching VND439 billion (US$20.9 million) on a volume of 22.4 million shares.

Property giant VinGroup (VIC) was the only code witnessing trades in excess of 1 million shares and it was also the most active code with over 2 million shares changed hands at VND62,500 ($2.98) a share.

On the Ha Noi Stock Exchange, the HNX-Index slid 0.62 per cent to close the morning's session at 62.04 points, with the decliners outnumbering the advancers by 76-40 while 269 others were unchanged.

Trading was very sluggish as nearly 8 million shares, worth VND53 billion ($2.5 million), changed hands.

Investment FLC Group (FLC) is temporarily leading the northern market's trades with 2.9 million shares exchanged at VND6,000 each. - VNS

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