The Saigon Times
HCMC - Stocks on the Hochiminh Stock Exchange extended their losses for the second day on October 27 with the VN-Index losing 433 points due to the poor performance of many bluechips.
With 102 gainers and 319 losers, the main index dropped 046% against the session earlier at 94647 points.
More than 455.8 million shares worth VND8.7 trillion changed hands, up 6% in volume and 2% in value. Of the total, block deals accounted for for nearly 41 million shares worth some VND1.1 trillion.
The market's loss today was attributed to the weakened momentum of pillar stocks in the morning session, such as property firm VIC, and lenders CTG and VPB. They increased only 0.6%, 0.8% and 0.2%, respectively.
Bank stock TCB even fell below its reference price of VND23300. Only steelmaker HPG rose 2% at VND31400.
Meanwhile, housing developer VHM, retailer VRE and lender MBB put pressure on the index as they slid 1.2%, 2.7% and 2.7% at VND77600 VND27000 and VND17900 respectively.
Especially, bank stock STB tumbled 5.7% at VND13300 and led the southern bourse by liquidity with more than 37 million shares changing hands.
CTB, another bank stock, came second with matching volume of over 30.8 million shares, followed by HPG with 25.2 million shares and CTG with 11.2 million shares.
The bright spot of the market was real estate firm PDR, which surged in both price and liquidity. It shot up 6.9% to the ceiling price at VND41050 and saw three million share changing hands.
On the Hanoi Stock Exchange, strong selling pressure dragged the HNX-Index down 1.9 points or 137% to 13713 points. Trade volume amounted to more than 48 million shares, valued at VND675.5 billion.
Most large stocks closed the day in the red. For example, lender ACB dropped 1.6% at VND24400 while securities firm VIX slipped 6.6% at VND11400. Additionally, export TNG plummeted 4.1% at VND11700.
ACB was the most actively traded stock in the northern stock exchange with over 11.7 million shares matched.
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