07/05/2015 15:36 GMT+7 Email Print Like 0

Shares decline after volatile sessions

Hanoi, May 7 (VNA) - Stocks declined on the 6 afternoon of May 6, dragging the VN-Index down 0.61 percent to close the session at 549.30 points.

On the Hochiminh Stock Exchange, the number of losing stocks almost tripled that of gaining stocks. Blue chips led the downturn as shown in a 1.04-percent decrease of the VN30, which tracks the top 30 shares by market value and liquidity.

Oil and gas stocks, the market's momentum during the morning's trades, sustained growth in the afternoon, but blue chips plunged, pulling the market down.

The market was volatile, with up and down sessions altering session by session. Aside from information about a petrol price hike in the night of May 5, there was no negative information that could dampen investors' psychology.

According to analysts at FPT Securities Co, investors sold off more speculative stocks to avert risks at the back of the biggest fuel price hike in four years.

Liquidity improved, however, as market volume and value climbed 20 percent over the previous session, totalling 89.3 million shares worth 1.45 trillion VND (67.1 million USD) by the end of the day.

Hong Huy Investment Services Co (HHD) claimed the most active stock position with 9.2 million shares, surging 3.52 percent to end at 20,600 VND (0.95 USD) a share.

On the Hanoi Stock Exchange, the HNX-Index also sank to a 2015 low, losing 1.06 percent to finish the session at 79.38 points. Meanwhile, the HNX30, which tracks the top 30 shares with the highest liquidity, shed 1.35 percent to close at 149.34 points.

Market conditions were negative, as the decliners outnumbered the advancers by 131-65, while other 172 closed flat.

Volume of trades here also increased 20 percent over the May 5 session, reaching 50.2 million shares, while the total value rose 40 percent to almost 578 billion VND (26.8 million USD).

KLF Joint Venture Global Investment Co (KLF) remained the most active stock by the end of the session with more than 12 million shares traded. But its share price dived 9.8 percent to settle at 7,600 VND each.

In contrast with domestic investors' moves, foreign investors boosted their buys when the market fell hard. They collected shares worth up to 212 billion VND (9.8 million USD) in the HCM City market. However, they were responsible for a net sell value of 6.5 billion VND (302,000 USD) in shares in the Hanoi market.
VNA/VNP