Shares plunged on Feb. 15 on both of the nation's stock exchanges
following news that the central bank will not issue more favourable
credit policies for the securities market.
In a press
conference on Feb. 14 afternoon, State Bank of Vietnam deputy governor
Nguyen Dong Tien said loans to investors in the real estate and
securities markets will continue to be listed in the bank's
non-productive classification and will not receive priority for lending
from banks.
This information struck like "thunderbolt" to
investors who had rushed to buy shares in recent sessions in the hopes
that the central bank would ease credit for the securities market.
On the HCM City Stock Exchange, the VN-Index closed down 0.71 percent
to 397.41 points. Both the volume and value of trades improved by about
25 percent over Feb. 14's session, totalling 45.7 million shares, worth
791.5 billion VND (37.7 million USD).
Decliners outnumbered advancers by 131-85.
Most blue chips lost value, pushing the VN30 Index down 0.92 percent to
close yesterday at 446.08 points. Sacombank (STB) and PetroVietnam
Finance (PVF) bottomed out, while Vietinbank (CTG), insurer Bao Viet
Holdings (BVH), and Phu My Fertilisers (DPM) all closed off
substantially.
Eximbank (EIB) was the most active share
with over 1.9 million changing hands. EIB ended the session down 0.6
percent to 15,400 VND per share.
Among shares included in
the VN30, only a few posted gains, including Kinh Bac City Development
(KBC) up 3.1 percent, Ocean Group (OGC) up 1.1 percent and Vinamilk
(VNM) up 0.6 percent.
On the Hanoi Stock Exchange, the
HNX-Index also slid 2.16 percent to close at 60.21 points, with losers
outnumbering gainers by 143-87. Value increased slightly to 309.8
billion VND (14.8 million USD) with nearly 36 million shares changing
hands.
Hanoi Housing Bank (HBB) was the most-active share
on a volume of over 4 million, but it dropped to its floor price of
4,500 VND.
