Jul 1: HNX-Index Plunges Third Day on Local Selling

VNStockNews.com - The Vietnamese northern stock exchange declined for a third straight day as local traders sold shares to seek new assets amid absence of market-boosting news.

The market nosedived from the opening to the closing because more negative information was reported, including higher fuel costs, growing inflation threats and narrowing cash flows.

The HNX-Index lost 6.54 points, or 4.39%, to close at 142.5. Last month, the gauge added 3.41%, the fourth straight winning month.

The measure lost 23.5% from this year’s high on June 11 but still 82.55% higher than the all-time low mark on February 24, according to data compiled by FPT Securities.

The index gained 35.56% in value so far this year, the broker’s data showed.

Among 204 stocks listed on the northern stock exchange, eight stocks advanced, 182 declined, three ended unchanged, and 11 closed untraded.

All 10 stocks with largest market caps declined.

Trading volume rose 10% from a day earlier to 20.68 million shares valued at VND680 billion, up 3%.

Asia Commercial Bank (ACB), the largest by market cap, was the most active stock on 4.47 million shares changed hands. The lender’s shares plunged 6.6% to close at VND46,700 per share.

Saigon Hanoi Securities Co. (SHS) was the second most traded stock with 1.47 million shares. The stock broker’s shares slumped 6.89% to end at VND36,500 per share.

Kim Long Securities (KLS) was the third most traded stock with 1.34 million shares, which slid 6.81% to VND26,000 per share.

PetroVietnam Technical Service Corp (PVS) tumbled 6.34% to end at VND32,500 per share on a trade of 1.23 million shares.

Real estate developer Vinaconex (VCG) dropped 6.9% to close at VND27,000 per share on a trade of 679,700 shares.

TJC was the biggest loser, sliding 7% to close at VND22,600 per share on a trade of 37,000 shares, followed by CIC and SSM.

VTL and SAF were the biggest advancers, adding 6.96% to settle at VND29,200 and VND24,600 per share on 8,800 shares and 700 shares changed hands, respectively.