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Banking & Finance

Banking shares drag markets down

Released at: 17:35, 27/04/2016 Stock Market Watch

Banking shares drag markets down

Handsome gains in VN-Index on April 25 lost on April 26.

by Hung Khanh

All indexes closed in negative territory on April 27. On HSX the VN-Index fell 4.52 points (0.76 per cent) and the VN30-Index 3.84 points (0.64 per cent), while on HNX the HNX-Index closed down 0.72 points (0.89 per cent) and the HNX30-Index 1.17 points (0.82 per cent).

HSX saw 95 shares increasing and 137 decreasing while HNX saw 133 increasing and 153 decreasing.

The VN-Index slid downwards in both sessions, reaching a bottom of 591.38 points in the middle of afternoon trade before recovering slightly and closing at 593.96 points.

Banking shares were largely responsible, with the three largest caps - VCB, CTG and BID - falling 2.54 per cent, 2.37 per cent, and 1.73 per cent, respectively. MBB was down 1.34 per cent, STB closed at its opening price, and EIB was up 0.95 per cent.

VIC and VNM also fell, by 1.9 per cent and 1.4 per cent, respectively.

Increasing large caps included GAS, by 2 per cent, DPM 1.4 per cent and MSN 0.7 per cent.

Banking shares also fell on HNX, with large caps SHB and ACB down 1.6 per cent and 1.1 per cent, respectively. Among other large caps, VCS fell 3.3 per cent and VCG and NTP 1.9 per cent.

Foreign investors net bought on both markets, by some VND56 billion ($2.51 billion) on HSX and VND8 billion ($358,720) on HNX.

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