Stocks tumble as blue chips slide

Monday, Oct 27, 2014 13:34

Blue chips were pulled down by scandal at Ocean Bank. – Photo

HA NOI (Biz Hub) – Stocks slid on the two exchanges this morning, pulled down by blue chips.

The VN-Index on the HCM Stock Exchange lost 0.26 per cent to end at 589.98 points, while the VN30, which tracks the top 30 shares by market value and liquidity, slumped 0.66 per cent to stand at 625.34 points.

The shares of the Ocean Group (OGC) dropped heavily by 6.42 per cent to end at VND10,200 per share this morning, following the news report that its former chairman Ha Van Tham was arrested late on Friday on charges of fraud.

OGC was also the most active code this morning, with 6.4 million of its shares being exchanged.

Other blue chips also tumbled, including Hoang Anh Gia Lai Co (HAG), VinGroup (VIC) and Sacombank (STB), as well as Masan Group (MSN).

Liquidity fell, with just 37 million shares worth VND686 billion (US$32.5 million) being traded.

On the Ha Noi Stock Exchange, the HNX-Index also declined 1.04 per cent to finish at 86.14 points.

More than 22 million shares, worth VND286 billion ($13.6 million), were traded by the end of the morning.

The trading will resume at 1pm. – VNS

Comments (0)