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Home / Economy / Banking & Finance
Blue chips weigh on local markets
10:55, 2015/07/10
The market slumped on both bourses as the VN30 and HNX30 Indexes slid from their values in the previous session.
On the HCM Stock Exchange (HOSE), the VN30 Index dropped 7.6 points, equal to 1.16 percent, to 645.67 points with only five gainers. 
On the Hanoi Stock Exchange (HNX), the HNX30 Index lost 3.26 points, or 1.88 percent, to finish at 169.53 points with only three gainers.
The VN-Index on the southern bourse was down 1.13 percent to finish at 623.17 points, while the HNX-Index on the northern bourse fell by 1.46 percent to close at 88.13 points.
Overall, the market was quite disappointing, with decliners outnumbering gainers by 259 to 143 while the 259 other stocks remained flat.
Foreign investors also reduced their net buy value by 68.9 percent to 23.3 billion VND (1.08 million USD). The decline in foreign investment also contributed to the market slump.
Shares continued to receive strong inflows of money as market liquidity continued to grow with a gain of 11 percent to 4.3 trillion VND (199 million USD), with a total of 259.5 million shares traded.
 
Photo for illustration
Photo for illustration
The market slump was found in most of the leading shares on the market, including gas, securities and real-estate shares.
Gas shares extended their losses. On the HOSE, Petrovietnam Gas Corporation (GAS) and Petrovietnam Drilling and Well Service Corporation (PVD) lost 1,500 VND and 2,000 VND per share, respectively.
On the northern bourse, Drilling Mud Corporation (PVC) and Petroleum Technical Services Corporation (PVS) had the biggest changes in their values, 1,300 VND and 1,000 VND per share.
Declining securities shares included HCM City Securities Corporation (HCM), Saigon Securities Incorporation (SSI), VNDirect Securities JSC (VND) and Saigon-Hanoi Securities JSC (SHS).
In addition, the market saw heavy losses in some leading stocks such as Vietcombank (VCB), Vietnam Dairy Products Joint Stock Company (VNM), Ma San Group (MSN) and Vingroup Corporation (VIC).
Among the eight rising blue chips on the market, Bao Viet Holdings (BVH) and HCM City Infrastructure Investment Joint Stock Company (CII) extended their gains. BVH was up 5.77 percent to 55,000 VND per share while CII rose by 1,800 VND to hit the ceiling price of 27,600 VND per share.
Most bank shares recorded slight growth, including Military Bank (MBB) and Sacombank (STB), who gained 1.93 percent and 2.05 percent, respectively. On the northern bourse, Saigon-Hanoi Bank (SHB) rose by 2.3 percent to 8,900 VND per share.
MBB and SHB were also the two most active codes on each bourse. MBB ended with 16 million shares traded, while 11.7 million SHB shares were exchanged on the market.
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