After a brief rise early in the morning session, shares continued to
plunge on the Ho Chi Minh Stock Exchange on March 28, led by a slump in
blue chips.
The VN-Index closed slightly off 0.12 percent
from the previous day at 490.67 points, but steep declines for the top
30 shares on the bourse pulled the VN30 down more significantly by 0.52
percent at 551.92 points.
Following news of the sale of
the Gemadept Tower in HCM City , transport firm Gemadept
(GMD) slid 3.8 percent to 1.3 million shares, its first decrease after
three continuous sessions of hitting the ceiling limit for rises.
Among a few gainers, PetroVietnam Gas (GAS) rose 1.9 per cent to 53,000
VND (2.52 USD) while dairy giant Vinamilk (VNM) was up 1.8 percent to
114,000 VND (5.43 USD).
Trading value improved slightly, totalling nearly 897 billion VND (42.7 million USD), up 18.5 per cent over the previous day.
Tan Tao Investment – Industry (ITA) continued to be the most active
stock on the southern bourse with 4.4 million shares traded, but the
share slumped 4.3 percent to 6,700 VND.
On the Hanoi Stock Exchange, the HNX-Index lost another 0.51 percent to finish the day at 60.31 point.
Trading volume continued to slide, amounting to 36.7 million shares,
worth just 277.5 billion VND (8.3 million USD), with Sai Gon- Hanoi Bank
(SHB) being the most active code on trades of 9.7 million shares. SHB
closed down 1.5 percent to 6,600 VND.
Despite the
downtrend, foreign investors remained net buyer on both markets, picking
up shares worth a combined 75 billion VND (3.6 million USD). They
focused their buys on blue chips such as PetroVietnam Gas (GAS), Hoa
Phat group (HPG), Bao Viet Holdings (BVH) and Hoang Anh Gia Lai (HAG).-VNA