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Stocks sag despite heavier trades

Accelerated sales extended the gloom on the nation's stock exchanges by another day, with the VN-Index shedding an additional 1.5 percent to close at 426.89 points on Nov. 16.

The volume of trades rose 17.3 percent over Nov. 15's session to 34.5 million shares, worth a total of 726.1 billion VND (34.6 million USD).

Sell orders accounted for 77 percent of total trading orders on the HCM Stock Exchange on Nov. 16, causing 196 listed stocks to decline.

Software firm CMC (CMG), Ngo Han Corporation (NHW) and Petrolimex International Trading (PIT) were among the shares dipping to the bottom of the regulated trading band of 5 percent.

Major shares also declined, including financial conglomerate Ocean Group (OGC), down 4.11 percent; Vietinbank (CTG), down 3.17 percent; and insurer Bao Viet Holdings (BVH), down 3.15 percent.

On the Hanoi Stock Exchange, the HNX-Index declined by a little over a percent to close at 97.44 points, with loser outnumbering gainers by more than five-to-one. However, market value was up modestly, totalling 26.9 million shares and generating a value for the day of 457.1 billion VND (21.8 million USD).

Sacomreal (SCR) claimed the position as the most-active share, with nearly three million traded.

From VietNamPlus

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