SSI Leads VN-Index down

The market went down today.

The country’s largest stockbroker, Saigon Securities, witnessed large selling today as the Hochiminh Stock Exchange continued to give up its gains of last week.

With 2.67 million stocks changing hands, SSI accounted for over 30 percent of the total volume of 8.2 million shares as the VN-Index lost 6.72 points to close at 539.01 points.

A broker at FPT Securities conjectured that the selling was coming from banks which were putting the SSI stocks mortgaged to it by clients.

On a bleak day for stocks, selling orders for millions of Sacombank, SSI, Phu My Fertilizer and Chemicals, FPT, Hoa Phat, Vitaco Transport, and Petroleum VTO shares found no buyers.

Out of 152 stocks listed on the bourse, there were only 14 winners as three remained unchanged. The trading value topped VND413.1 billion (US$25.8 million).

In Ha Noi, the Hastc-Index lost 3.42 points to close at 185.62. Nearly 2.2 million shares worth VND84.2 billion were traded.

By Tuong Chau – Translated by Phuong Lan

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