Bad news pull back securities

17:21 | 20/10/2010

Hanoi - The VN-Index on the Ho Chi Minh Stock Exchange dropped 2.66 per cent October 20, closing the session at 442.17 after the Dow Jones fell to a two-month low and inflation in Hanoi hit an eight-month high.

About 39.6 million shares changed hands on the southern bourse, worth VND911.3 billion ($46.7 million).

More than 50 of the total 268 listed stocks on the southern market matched their floor prices, including Song Da Urban, Industrial Zone Investment & Development (SJS), down 2.5 per cent to VND57,000; Industrial Urban Development Co No2 (D2D), 2.3 per cent to VND44,800; and Cuu Long Pharmaceutical (DCL), 2.2 per cent to VND42,800.

Only Descon Construction (DCC) managed to hit their ceiling price to increase by 1.2 per cent to VND26,800.

In Hanoi, the HNX-Index dipped by 3.71 per cent to 112.24 points, on a total volume of 35.5 million shares.

The value of the day's trades remained brisk at VND661.8 billion ($34 million).

Nearly 100 listed stocks matched their floor prices, including PetroVietnam-Nghe An Construction (PVA), down 3.3 per cent to VND44,300; Thai Binh Cement (TBX), 3.1 per cent to VND42,500; and Song Da Urban Investment & Development (SDU), 2.7 per cent to VND37,100.

The US dollar on the black market was worth more than VND20,000, despite the State Bank's denial that the exchange rate had fluctuated.

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