The Vietnamese stock exchange on Aug. 9 was unable to resist global trends, with the VN-Index plunging by 2.2 percent from the previous day to close at 387.70 and most listed shares on the Ho Chi Minh Stock Exchange shedding value.
The value of trades climbed 43.6 percent over Aug. 8 level, however, to 664.5 billion VND (32.3 million USD), while market volume jumped 67.6 percent to 41.4 million shares.
Foreign investors were net buyers on both bourses by a combined net of 87.7 billion VND (4.3 million USD). As Dragon Capital fund announced its intention to sell its entire stake in Sacombank (STB), foreign investors yesterday bought up a total of nearly 5.4 million STB shares, worth over 81 billion VND (3.9 million USD).
"Sacombank also contributed about 30 percent of market value, making it the most heavily traded code on the exchange with nearly 8.5 million shares traded," said StoxPlus Financial Media Co analyst Dang Anh. "Up to 70 percent of transactions were due to sellers actively matching orders."
The Vietnamese stock market has already been experiencing a gloomy period, and now it is feeling the impact from global markets and the spike in gold prices, Anh noted.
Domestic gold prices earlier in the day soared to 46 million VND (2,200 USD) per tael. To cool down the market, the central bank quickly announced that it would allow imports of gold bullion, and gold price eased down by about 1.4 million VND (68 USD) per tael by the afternoon.
On the Hanoi Stock Exchange, the HNX-Index plunged by 2.5 percent to close at 65.63 points, with losers outnumbering gainers by 265-25.
The value of trades surged by 68.7 percent, however, reaching 385.8 billion VND (18.7 million USD) on a volume of 36.5 million shares.
Kim Long Securities Co (KLS) was the most-active share, with about 4.5 million changing hands, and PetroVietnam Construction Co (PVX) followed with a volume of 3.5 million shares./.
The value of trades climbed 43.6 percent over Aug. 8 level, however, to 664.5 billion VND (32.3 million USD), while market volume jumped 67.6 percent to 41.4 million shares.
Foreign investors were net buyers on both bourses by a combined net of 87.7 billion VND (4.3 million USD). As Dragon Capital fund announced its intention to sell its entire stake in Sacombank (STB), foreign investors yesterday bought up a total of nearly 5.4 million STB shares, worth over 81 billion VND (3.9 million USD).
"Sacombank also contributed about 30 percent of market value, making it the most heavily traded code on the exchange with nearly 8.5 million shares traded," said StoxPlus Financial Media Co analyst Dang Anh. "Up to 70 percent of transactions were due to sellers actively matching orders."
The Vietnamese stock market has already been experiencing a gloomy period, and now it is feeling the impact from global markets and the spike in gold prices, Anh noted.
Domestic gold prices earlier in the day soared to 46 million VND (2,200 USD) per tael. To cool down the market, the central bank quickly announced that it would allow imports of gold bullion, and gold price eased down by about 1.4 million VND (68 USD) per tael by the afternoon.
On the Hanoi Stock Exchange, the HNX-Index plunged by 2.5 percent to close at 65.63 points, with losers outnumbering gainers by 265-25.
The value of trades surged by 68.7 percent, however, reaching 385.8 billion VND (18.7 million USD) on a volume of 36.5 million shares.
Kim Long Securities Co (KLS) was the most-active share, with about 4.5 million changing hands, and PetroVietnam Construction Co (PVX) followed with a volume of 3.5 million shares./.
