Stocks drop below 890 points By Phuong Thao HCMC – Vietnamese stocks continued their bearish run today, October 29, as the VN-Index of the Hochiminh Stock Exchange slid to below the supporting level of 890 points amid sluggish trade. With 109 stocks rising and 178 others inching down, the main index shed 12 points, or 1.33%, compared to last Friday at 888.82, marking the eighth consecutive losing session. Trading volume on the southern market was unchanged from the session earlier, at 140 million shares, while value dropped 11% at VND3.2 trillion. Among the top 10 stocks, consumer goods enterprise MSN was the only stock to move flat while the remaining stocks declined strongly. Gas group GAS took away the most points from the VN-Index as it slumped 4.7% at VND97,000 while VNM, a dairy company, fell 1.2% at VND120,000. Bank stocks still strongly attracted cash flow. STB came second in terms of liquidity with 5.7 million shares transacted, followed by VPB with 5.3 million shares. Property firm FLC was the most actively traded stock with 5.73 million shares changing hands but dipped a slight 0.4% at VND5,000. JVC, a medical equipment enterprise, stood out among small stocks as it jumped to its ceiling price of VND2,800. According to tinnhanhchungkhoan.vn, the board of directors of JVC at its recent shareholder meeting presented specific solutions to settle debts and spur up its share price to over VND15,000. The HNX-Index of the Hanoi Stock Exchange fell for the sixth consecutive day, dipping 0.65%… [Read full story]
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