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VN-Index drops to below 300 points on IFC’s announcement   2008-12-16 - Nhan Dan

VN-Index closed down 11.86 points or 3.85% at 296.42 on Tuesday.

VietNamNet Bridge - The International Finance Corporation (IFC)'s announcement of its intention to sell over 16 million shares or half of its common stock in Sacombank had negative impacts on the market in today's session.

VN-Index suffered a sharp loss and dropped to below 300 points again after two impressive gaining sessions.

VN-Index closed down 11.86 points or 3.85% at 296.42. A total of 11.9 million shares were matched via order matching worth VND 294 billion, up 20% in volume and 32% in value compared to yesterday's figures.

The number of losers outstripped that of gainers today. Specifically, 141 out of the total 173 listed stocks on the Ho Chi Minh City Stock Exchange reported losses while only 17 reported gains.

STB was the most traded stock today with some 2.7 million matched. The stock closed the session at its floor price of VND 19,000 a unit, down VND 900 a share.

The HASTC-Index of the Hanoi bourse also saw a drop of 3.38% or 3.73 points, closing at 106.57. Investors traded a total of 7.1 million shares worth VND 166 billion.

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