Shares slide on weak liquidity ahead of Tet

Thursday, Jan 19, 2017 12:45

Shares slid further on the two local exchanges on Thursday morning with weak liquidity ahead of the Tet (Lunar New Year) holiday. — Photo

Shares fell on the two local exchanges on weak trading liquidity ahead of the Tet (Lunar New Year) holiday.

The VN Index on the HCM Stock Exchange ended slightly down at 682.98 points. The benchmark declined by 0.2 per cent on Wednesday.

The HNX Index on the Ha Noi Stock Exchange edged down 0.3 per cent to close at 83.05 points. The northern market index lost 0.8 per cent in the previous session.

Market trading liquidity was low with only 53 million shares being traded, worth VND1.24 trillion (US$55 million).

Investors have shown weak sentiment in recent days as the stock market witnesses its last few trading sessions before the Tet holiday starts next week.

Weak demand pushed the markets down, with 200 stocks declining and 114 stocks remaining flat, while142 stocks recorded gains.

Among the decliners, brewer Sabeco (SAB), PetroVietnam Gas Corp (GAS) and property and retail firm Vingroup (VIC) lost between 0.2 per cent and 0.6 per cent each.

On the other hand, banks continued to perform well on expectations that the government will allow local commercial banks to raise foreign ownership in their capital.

In the banking sector, Sacombank (STB), Nam Viet Bank (NVB), Vietinbank (CTG) and Bank for Investment and Development of Viet Nam (BID) were the gainers. — VNS

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