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Trade volume at record high, VN-Index down

The Saigon Times

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HCMC – Trade volume on the Hochiminh Stock Exchange hit a record high of over 1.5 billion shares worth VND43.2 trillion today, November 3, up 49% and 50% against the session earlier, respectively, while the VN-Index lost ground due to strong selling.

The benchmark index dipped 8.16 points, or 0.56%, over the previous session, at 1,444.3, with 328 losers and 144 gainers. Among the winners, just eight stocks shot up to their daily ceiling prices.

The strong performance of many bank stocks kept the main index from a steep fall, with lenders OCB and LPB hitting their upper limits. Other bank stocks such as HDB, MSB, STB, EIB and VIB added 3.3%-6.3% each. STB saw 41 million shares traded.

Under the profit-taking pressure, securities, steel, fuel and real estate stocks ended lower, contributing to the decline of the VN-Index.

Many small and medium stocks lost steam, with industrial zone developer ITA and real estate firms SCR and LDG plunging to their floor prices.

On the Hanoi Stock Exchange, the HNX-Index lost 8.4 points, or 1.98%, over the session earlier, at 415.71, with 75 gainers and 181 decliners.

Among large-caps, bank stocks BAB and NVB rose strongly while industrial development firm IDC reported the sharpest drop at 7.1%, followed by insurer PVI with a 6.7% slip.

Many other poor performers were property developer CEO, housing firm NDN and securities company APS.

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