Shares fall before holiday weekend (31/8)

[xiuchic]

Shares declined again after two consecutive rising sessions as investors became cautious ahead of the National Day holiday on Sunday.

On the HCM City Stock Exchange, the VN-Index gave up 0.23 per cent to close this morning at 396.35 points. Trading value decreased over yesterday morning to just VND299 billion (US$14.2 million).

Blue chips were mixed. Software giant FPT Corp (FPT) and property developer Hoang Anh Gia Lai (HAG) almost hit ceiling prices, but real-estate giant VinGroup (VIC) lost 3.4 per cent and Eximbank (EIB) and Sai Gon Securities Inc (SSI) shed more than one per cent.

The VN30 tracking the top 30 shares on the southern bourse was also up 0.02 per cent overall, standing at 465.53 points.

Decliners outnumbered advancers by 106-73, led by blue chips.

No codes saw trades in excess of one million shares. Telecom equipment maker Sacom Investment Development Co (SAM) witnessed more than 800 million shares change hands, making it the most active code this morning. It closed flat at VND7,500 a share.

On the Ha Noi Stock Exchange, the HNX-Index finished 61.52 points, off 0.65 per cent from yesterday.

The HNX30 also decreased one per cent to 116.49 points.

Almost 18.5 million shares, worth VND182 billion ($8.7 million), changed hands this morning.
VNDirect Securities CO (VND) continued to be the most active code on total trades of nearly 4.8 million shares, dropping 2.9 per cent to a close of VND9,900 a share.
Trading will resume at 1pm.

[xiuchic]

Shares declined again after two consecutive rising sessions as investors became cautious ahead of the National Day holiday September 2.



On the HCM City Stock Exchange, the VN-Index gave up 0.31 per cent to close August 31 at 396.02 points.

Both trading volume and value decreased about 15 per cent from Thursday, totalling over 33.3 million shares, worth VND505.4 billion (US$24.1 million).

Blue chips were mixed. While property developer Hoang Anh Gia Lai (HAG), dairy producer Vinamilk (VNM) and Phu My Fertiliser (DPM) rose 1.8-3.4 per cent; real-estate giant VinGroup (VIC), Tan Tao Investment Industry Corp (ITA) and Phu Nhuan Jewelry (PNJ) hit the floor prices.

The VN30 tracking the top 30 shares on the southern bourse edged down 0.03 per cent overall, standing at 465.29 points.

ITA was also the most active stock by the end of yesterday's session with 1.5 million shares traded, but the shares shed 3.4 per cent to end at VND5,700.

On the Ha Noi Stock Exchange, the HNX-Index finished at 61.43 points, off 0.79 per cent from Thursday, with gainers outnumbering losers by 108-69. The HNX30 also decreased 0.97 per cent to 116.53 points.

Almost 27.5 million shares, worth VND258.2 billion ($8.7 million), changed hands yesterday, down 15 per cent in volume and nearly 7 per cent in value from a day earlier.

VNDirect Securities Co (VND) continued to be the most active code with total trades of 5.55 million shares, dropping 3 per cent to a close of VND9,900.

Many analysts attributed the downturn yesterday to the sluggish sentiment of investors before the holiday, treading carefully because of the lack of any promise of a solid upturn.

However, according to Saigon Securities Inc (SSI), reducing the proportion of poor stocks before the holiday is not a bad tactic and investors can consider the economic development after the holiday to have a better investment strategy.

Meanwhile, foreign investors continued their solid buying, concluding yesterday as net buyers again on both exchanges.

They were responsible for a combined net buy of VND32 billion ($1.5 million) worth of shares.