Share market opens sluggish

Opening the first session of the new year, both national stock indices lost ground on plunging market values.

On the HCM Stock Exchange, the VN-Index slid 0.44 per cent to 350 points, with nearly half of the listed stocks losing.

The trading value dived 60.4 per cent compared to the previous session, totaling just VND320.5 billion (US$15.2 million). The volume of trades also lost 63.2 per cent to 20.6 million shares.

The weak performance of the Index was despite the gains of some blue chips, including insurer Bao Viet Holding (BVH) up 4.6 per cent, Military Bank (MBB) up 0.9 per cent, Petrovietnam Finance (PVF) up 2.8 per cent and Sacombank (STB) up 2.6 per cent.

Meanwhile, other large-cap shares retreated.

With around 957,000 shares changing hands, STB was the most active code on the southern bourse.

On the Ha Noi Stock Exchange, the HNX-Index ended 3.3 per cent off, hitting 56.79 points. However, gainers overwhelmed losers by 121-89.

The market value reached 41.5 per cent of the previous trading day, or VND117.7 billion ($5.55 million) on a volume of 14.7 million shares.

PetroVietnam Construction Co (PVX) saw the highest trading volume nationwide of nearly 1.4 million shares. It concluded today's session up 3 per cent to VND6,800 per share.

(source: VNS)

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