boiman
25-07-2008, 11:17 AM
The stock market continued its downward spiral on July 24, but liquidity considerably improved as some firms released positive business results.
On the Ho Chi Minh Stock Exchange, trading volume reached 23.97 million shares compared to just 2 million on July 23. Trading value reached 910 billion VND (55 million USD).
The VN-Index nearly bounced back when Phu My Fertilisers (DPM) and FPT hit ceiling prices mid-day, following early-day increases of Hoa Phat Group (HPG), Techno-Agricultural Supplying Joint Stock Co (TSC), Binh Dinh Minerals (BMC) and Sai Gon Fuel Co (SFC).
The companies all announced good business results in the second quarter.
While purchases rallied considerably, abundant sales caused the VN-Index to slump another 9.8 points, or 2.2 percent, to close at 435.79. The market saw 12 gainers and 141 losers at the end of day.
At the Hanoi Securities Trading Centre, pressure from big sales also pushed the HASTC-Index down 2.14 points or 1.49 percent to close at 141.34.
Trading volume improved, reaching 12.9 million shares for a turnover of around 438 billion VND (26.54 million).
Bank shares were the most active on July 24, with Sacombank (STB) of the southern market seeing 5 million shares traded while Asia Commercial Bank (ACB) of the Hanoi market saw 1.9 million shares change hands.
On the Ho Chi Minh Stock Exchange, trading volume reached 23.97 million shares compared to just 2 million on July 23. Trading value reached 910 billion VND (55 million USD).
The VN-Index nearly bounced back when Phu My Fertilisers (DPM) and FPT hit ceiling prices mid-day, following early-day increases of Hoa Phat Group (HPG), Techno-Agricultural Supplying Joint Stock Co (TSC), Binh Dinh Minerals (BMC) and Sai Gon Fuel Co (SFC).
The companies all announced good business results in the second quarter.
While purchases rallied considerably, abundant sales caused the VN-Index to slump another 9.8 points, or 2.2 percent, to close at 435.79. The market saw 12 gainers and 141 losers at the end of day.
At the Hanoi Securities Trading Centre, pressure from big sales also pushed the HASTC-Index down 2.14 points or 1.49 percent to close at 141.34.
Trading volume improved, reaching 12.9 million shares for a turnover of around 438 billion VND (26.54 million).
Bank shares were the most active on July 24, with Sacombank (STB) of the southern market seeing 5 million shares traded while Asia Commercial Bank (ACB) of the Hanoi market saw 1.9 million shares change hands.