Shares plunged on Feb. 15 on both of the nation's stock exchanges following news that the central bank will not issue more favourable credit policies for the securities market.
In a press conference on Feb. 14 afternoon, State Bank of Vietnam deputy governor Nguyen Dong Tien said loans to investors in the real estate and securities markets will continue to be listed in the bank's non-productive classification and will not receive priority for lending from banks.
This information struck like "thunderbolt" to investors who had rushed to buy shares in recent sessions in the hopes that the central bank would ease credit for the securities market.
On the HCM City Stock Exchange, the VN-Index closed down 0.71 percent to 397.41 points. Both the volume and value of trades improved by about 25 percent over Feb. 14's session, totalling 45.7 million shares, worth 791.5 billion VND (37.7 million USD).
Decliners outnumbered advancers by 131-85.
Most blue chips lost value, pushing the VN30 Index down 0.92 percent to close yesterday at 446.08 points. Sacombank (STB) and PetroVietnam Finance (PVF) bottomed out, while Vietinbank (CTG), insurer Bao Viet Holdings (BVH), and Phu My Fertilisers (DPM) all closed off substantially.
Eximbank (EIB) was the most active share with over 1.9 million changing hands. EIB ended the session down 0.6 percent to 15,400 VND per share.
Among shares included in the VN30, only a few posted gains, including Kinh Bac City Development (KBC) up 3.1 percent, Ocean Group (OGC) up 1.1 percent and Vinamilk (VNM) up 0.6 percent.
On the Hanoi Stock Exchange, the HNX-Index also slid 2.16 percent to close at 60.21 points, with losers outnumbering gainers by 143-87. Value increased slightly to 309.8 billion VND (14.8 million USD) with nearly 36 million shares changing hands.
Hanoi Housing Bank (HBB) was the most-active share on a volume of over 4 million, but it dropped to its floor price of 4,500 VND.
Foreign investors concluded the day as net buyers on both exchanges, picking up another 68.5 billion VND (3.3 million USD) worth of shares. /.
In a press conference on Feb. 14 afternoon, State Bank of Vietnam deputy governor Nguyen Dong Tien said loans to investors in the real estate and securities markets will continue to be listed in the bank's non-productive classification and will not receive priority for lending from banks.
This information struck like "thunderbolt" to investors who had rushed to buy shares in recent sessions in the hopes that the central bank would ease credit for the securities market.
On the HCM City Stock Exchange, the VN-Index closed down 0.71 percent to 397.41 points. Both the volume and value of trades improved by about 25 percent over Feb. 14's session, totalling 45.7 million shares, worth 791.5 billion VND (37.7 million USD).
Decliners outnumbered advancers by 131-85.
Most blue chips lost value, pushing the VN30 Index down 0.92 percent to close yesterday at 446.08 points. Sacombank (STB) and PetroVietnam Finance (PVF) bottomed out, while Vietinbank (CTG), insurer Bao Viet Holdings (BVH), and Phu My Fertilisers (DPM) all closed off substantially.
Eximbank (EIB) was the most active share with over 1.9 million changing hands. EIB ended the session down 0.6 percent to 15,400 VND per share.
Among shares included in the VN30, only a few posted gains, including Kinh Bac City Development (KBC) up 3.1 percent, Ocean Group (OGC) up 1.1 percent and Vinamilk (VNM) up 0.6 percent.
On the Hanoi Stock Exchange, the HNX-Index also slid 2.16 percent to close at 60.21 points, with losers outnumbering gainers by 143-87. Value increased slightly to 309.8 billion VND (14.8 million USD) with nearly 36 million shares changing hands.
Hanoi Housing Bank (HBB) was the most-active share on a volume of over 4 million, but it dropped to its floor price of 4,500 VND.
Foreign investors concluded the day as net buyers on both exchanges, picking up another 68.5 billion VND (3.3 million USD) worth of shares. /.
