The impact on a lacklustre securities market of the central bank's decision to allow the importation of more gold and its sale of US dollars should be known almost immediately the stock exchanges open on Nov. 10.
Vietnam's stock market continued to decline on Nov. 9 as the prices of gold and the US dollar danced higher together to a rhythm that showed no sign of faltering.
The domestic price of gold set a record 38.8 million VND (1,825 USD) per tael on Nov. 9 morning after the precious metal soared above 1,400 USD an ounce on the world market. A tael is the equivalent to 1.2 troy ounces.
A single US dollar bought up to 21,250 VND on the street.
In HCM City, the VN-Index lost 1.69 percent over Nov.8 to close at 449.4.
Both market volume and value rose and 41 million shares worth 1.1 trillion VND (52.4 million USD) were exchanged – an increase of 28.6 percent in volume and 38.2 percent in value.
The number of declines were almost ten times higher than advances.
Among major shares, only software giant FPT Corp (FPT) posted a modest increase of 0.7 percent.
Insurer Bao Viet Holdings (BVH) declined 3.9 per cent, Phu My Fertiliser (DPM) fell 3.66 percent, industrial conglomerate Hoa Phat Group (HPG) decreased 1.5 percent, and Eximbank (EIB) declined 1.4 percent.
Sacombank (STB) was the most active stock on the southern bourse with 1.94 million shares traded, but it closed down 1.9 percent to 15,500 VND (0.74 USD).
Ca Mau Frozen Seafood Processing Import Export Corp (CMX) listed almost 11.5 million shares on the HCM City bourse on Nov. 9. CMX then closed its first trading day unchanged at 15,000 VND (0.71 USD) with 97,540 shares traded.
In Hanoi, the HNX-Index fell another 2.64 percent to close Nov. 9's session at 106.83. Trading volume rose to more than 26.1 million shares worth 493.6 billion VND (21.3 million USD) – rises of about 16 percent in both volume and value.
Losers largely outnumbered gainers 288-25, with PetroVietnam Construction (PVX) again being the most heavily-traded share nation-wide, with 2.89 million shares changing hands. PVX fell 3.3 percent to close at 20,900 VND (1 USD).
Property developer Sacomreal (SCR) listed 966.9 million shares for the first time on the northern bourse and it closed unchanged at an average of 27,300 VND (1.30 USD) per share on volume of almost 967,000 shares.
Foreign investors continued to be net buyers on both exchanges, picking up 2.5 million shares worth a combined 94 billion VND (4.5 million USD)./.
Vietnam's stock market continued to decline on Nov. 9 as the prices of gold and the US dollar danced higher together to a rhythm that showed no sign of faltering.
The domestic price of gold set a record 38.8 million VND (1,825 USD) per tael on Nov. 9 morning after the precious metal soared above 1,400 USD an ounce on the world market. A tael is the equivalent to 1.2 troy ounces.
A single US dollar bought up to 21,250 VND on the street.
In HCM City, the VN-Index lost 1.69 percent over Nov.8 to close at 449.4.
Both market volume and value rose and 41 million shares worth 1.1 trillion VND (52.4 million USD) were exchanged – an increase of 28.6 percent in volume and 38.2 percent in value.
The number of declines were almost ten times higher than advances.
Among major shares, only software giant FPT Corp (FPT) posted a modest increase of 0.7 percent.
Insurer Bao Viet Holdings (BVH) declined 3.9 per cent, Phu My Fertiliser (DPM) fell 3.66 percent, industrial conglomerate Hoa Phat Group (HPG) decreased 1.5 percent, and Eximbank (EIB) declined 1.4 percent.
Sacombank (STB) was the most active stock on the southern bourse with 1.94 million shares traded, but it closed down 1.9 percent to 15,500 VND (0.74 USD).
Ca Mau Frozen Seafood Processing Import Export Corp (CMX) listed almost 11.5 million shares on the HCM City bourse on Nov. 9. CMX then closed its first trading day unchanged at 15,000 VND (0.71 USD) with 97,540 shares traded.
In Hanoi, the HNX-Index fell another 2.64 percent to close Nov. 9's session at 106.83. Trading volume rose to more than 26.1 million shares worth 493.6 billion VND (21.3 million USD) – rises of about 16 percent in both volume and value.
Losers largely outnumbered gainers 288-25, with PetroVietnam Construction (PVX) again being the most heavily-traded share nation-wide, with 2.89 million shares changing hands. PVX fell 3.3 percent to close at 20,900 VND (1 USD).
Property developer Sacomreal (SCR) listed 966.9 million shares for the first time on the northern bourse and it closed unchanged at an average of 27,300 VND (1.30 USD) per share on volume of almost 967,000 shares.
Foreign investors continued to be net buyers on both exchanges, picking up 2.5 million shares worth a combined 94 billion VND (4.5 million USD)./.
