Outlook sends shares tumbling
Investors continued to opt out of the market on Aug. 1, watching stocks fall on both national stock exchanges.
Investors continued to opt out of the market on Aug. 1, watching stocks fall on both national stock exchanges.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange lost another 0.47 percent to close the session at 412.55 points, led by blue chips.
The VN30 Index tracking the top 30 shares by market capitalisation and liquidity is also down 0.45 percent to 489.76 points.
Decliners outnumbered advancers by 142-72 overall.
Trading is still sluggish with just 27.6 million shares, worth 426.3 billion VND (11.2 million USD), exchanged.
Only four codes exceeded more than 1 million shares traded, of which Tan Tao Industry Investment Corp (ITA), with over 1.7 million shares traded, is the most active, but closed flat at 6,700 (0.32 USD)
"Investors maintain a pessimistic outlook on the market," said HCM City-based independent analyst Pham Viet Hung, noting more and more companies are reporting poor corporate earnings and disappointing investors.
By the end of July, 65 companies had posted losses in the second quarter, led by businesses operating in the fields of construction and real estate (19 firms), and securities and mining (7 firms).
On the Hanoi Stock Exchange, attractive prices helped to lift trading volume. Over 31.6 million shares worth more than 481.6 billion VND (22.9 million USD) changed hands yesterday, doubling July 31's trading value.
However, the benchmark HNX-Index still fell another 0.71 percent to finish the session at 68.70 points, with losers overwhelming gainers by 127-73.
The HNX30 Index also dropped 1.19 percent to close at 129.35 points.
VNDirect Securities (VND) is the most active code on the Hanoi market with more than 4 million shares changing hands, but still fell 1.8 percent to finish at 10,700 VND (0.52 USD).
Foreign investors concluded the Aug. 1 session as net sellers on both exchanges, unloading combined shares worth 11 billion VND (524,000 USD).-VNA
The benchmark VN-Index on the Ho Chi Minh Stock Exchange lost another 0.47 percent to close the session at 412.55 points, led by blue chips.
The VN30 Index tracking the top 30 shares by market capitalisation and liquidity is also down 0.45 percent to 489.76 points.
Decliners outnumbered advancers by 142-72 overall.
Trading is still sluggish with just 27.6 million shares, worth 426.3 billion VND (11.2 million USD), exchanged.
Only four codes exceeded more than 1 million shares traded, of which Tan Tao Industry Investment Corp (ITA), with over 1.7 million shares traded, is the most active, but closed flat at 6,700 (0.32 USD)
"Investors maintain a pessimistic outlook on the market," said HCM City-based independent analyst Pham Viet Hung, noting more and more companies are reporting poor corporate earnings and disappointing investors.
By the end of July, 65 companies had posted losses in the second quarter, led by businesses operating in the fields of construction and real estate (19 firms), and securities and mining (7 firms).
On the Hanoi Stock Exchange, attractive prices helped to lift trading volume. Over 31.6 million shares worth more than 481.6 billion VND (22.9 million USD) changed hands yesterday, doubling July 31's trading value.
However, the benchmark HNX-Index still fell another 0.71 percent to finish the session at 68.70 points, with losers overwhelming gainers by 127-73.
The HNX30 Index also dropped 1.19 percent to close at 129.35 points.
VNDirect Securities (VND) is the most active code on the Hanoi market with more than 4 million shares changing hands, but still fell 1.8 percent to finish at 10,700 VND (0.52 USD).
Foreign investors concluded the Aug. 1 session as net sellers on both exchanges, unloading combined shares worth 11 billion VND (524,000 USD).-VNA
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