Shares continued to retreat on both national exchanges on Oct. 25 evenas a number of companies reported higher profits in the first ninemonths of this year.
"Even though global markets ralliedovernight, domestic investors need more supportive information thanpositive earnings reports," said Vietcombank Securities Co analyst TranMinh Hoang.
On the Hanoi Stock Exchange, the benchmarkHNX-Index fell by 1 percent to close at 67.72 points, with over half ofall listed shares sinking into the red. The value of trades dropped 13.4percent from Oct. 24's figure, totalling just 234.6 billion VND (11.2million USD) on a volume of 23.9 million shares.
PhuongDong (Orient) Securities Co (ORS) was the most notable on the Hanoibourse, plunging to just 3,000 VND per share over the past two sessions.Speculators had favoured this share after the company reported morethan 1 trillion VND (47.8 million USD) in cash on hand. However, itstill reported a loss of 6.5 billion VND (311,000 USD) for the firstthree quarters of the year, causing investors to dump more than amillion ORS shares on Oct. 25 morning.
On the HCM StockExchange, the VN-Index declined by 1.23 percent to close out Oct. 25'strading at 409.38. The value of trades rose by 11 percent from theprevious session's level to over 385 billion VND (18.4 million USD), on avolume of 22.4 million shares.
Decliners outnumberedadvancers by 153-67. Of the 10 leading shares by capitalisation, onlyEximbank (EIB) and Sacombank (STB) posted gains on the day.
Food processor Masan Group (MSN), a backbone of the VN-Index, was themain culprit in dragging down the Index, losing 3.1 percent on Oct. 25despite posting a nine-month profit of 1.8 trillion VND (86.1 millionUSD), an increase of 88 percent over the same period last year.
Becamex Infrastructure Co (IJC), the most-active code in HCM Citywith 1.4 million shares traded – also closed down 2 percent to 10,000VND per share, despite releasing positive business results for the firstnine months on Oct. 25. IJC earned 486 billion VND (23.3 million USD)during the period, triple the previous year's figure, and posted aprofit of 132.7 billion VND (6.3 million USD), an increase of 70percent. The results, however, accounted for only 31 percent of thecompany's earnings target for the year and 43 percent of its profittarget.
Foreign investors concluded the day on Oct. 25 asnet buyers on both stock exchanges, picking a combined net of 7.35billion VND (352,00 USD) worth of shares. /.
"Even though global markets ralliedovernight, domestic investors need more supportive information thanpositive earnings reports," said Vietcombank Securities Co analyst TranMinh Hoang.
On the Hanoi Stock Exchange, the benchmarkHNX-Index fell by 1 percent to close at 67.72 points, with over half ofall listed shares sinking into the red. The value of trades dropped 13.4percent from Oct. 24's figure, totalling just 234.6 billion VND (11.2million USD) on a volume of 23.9 million shares.
PhuongDong (Orient) Securities Co (ORS) was the most notable on the Hanoibourse, plunging to just 3,000 VND per share over the past two sessions.Speculators had favoured this share after the company reported morethan 1 trillion VND (47.8 million USD) in cash on hand. However, itstill reported a loss of 6.5 billion VND (311,000 USD) for the firstthree quarters of the year, causing investors to dump more than amillion ORS shares on Oct. 25 morning.
On the HCM StockExchange, the VN-Index declined by 1.23 percent to close out Oct. 25'strading at 409.38. The value of trades rose by 11 percent from theprevious session's level to over 385 billion VND (18.4 million USD), on avolume of 22.4 million shares.
Decliners outnumberedadvancers by 153-67. Of the 10 leading shares by capitalisation, onlyEximbank (EIB) and Sacombank (STB) posted gains on the day.
Food processor Masan Group (MSN), a backbone of the VN-Index, was themain culprit in dragging down the Index, losing 3.1 percent on Oct. 25despite posting a nine-month profit of 1.8 trillion VND (86.1 millionUSD), an increase of 88 percent over the same period last year.
Becamex Infrastructure Co (IJC), the most-active code in HCM Citywith 1.4 million shares traded – also closed down 2 percent to 10,000VND per share, despite releasing positive business results for the firstnine months on Oct. 25. IJC earned 486 billion VND (23.3 million USD)during the period, triple the previous year's figure, and posted aprofit of 132.7 billion VND (6.3 million USD), an increase of 70percent. The results, however, accounted for only 31 percent of thecompany's earnings target for the year and 43 percent of its profittarget.
Foreign investors concluded the day on Oct. 25 asnet buyers on both stock exchanges, picking a combined net of 7.35billion VND (352,00 USD) worth of shares. /.
