Shares extended losses for a second straight day on both stockexchanges as investors continued to sell shares amid fears of furtherdeclines.
The VN-Index on the Ho Chi Minh City Stock Exchangeclosed down 1.31 percent at 583.85 points, the biggest loss in threeweeks. On the Hanoi Stock Exchange, the HNX-Index plunged 3.3 percent to86.49 points.
A total of nearly 288 million shares and fundcertificates worth a combined 4.2 trillion VND (199 million USD) weretraded on the two bourses on April 1.
More and more investorshesitated to buy shares at high prices, which made many shares losevalue. Up to 440 of the 683 shares declined and 100 fell to their floorprices. Only 80 shares posted gains, most of which were small- andmid-cap shares.
On the HCM Stock Exchange, blue chips continuedto weigh on the market as only three of the top 30 shares by marketvalue and liquidity rose while 26 declined. The VN30 went down 1.54percent to end at 660.13 points.
The largest insurer in Vietnam,Bao Viet Holdings (BVH), was the biggest loser with a drop of 4.2percent to 43,200 VND (2.05 USD).
The HNX30, which tracks the top 30 shares on the Hanoi bourse, also sank 3.92 percent to 176.78 points.
TanTao Investment Industry Corp (ITA) was the most active stock nationwideon total trades of 21.2 million shares. ITA plunged 6 percent to 9,500VND a share, the low price of 10 days ago which attracted investors tobargain.
According to analysts of FPT Securities Co, the sellingpressure was not strong and weak demand could not help the marketsustain the rising momentum. Furthermore, long net selling by foreigninvestors, especially concentrating on large-cap stocks, affecteddomestic investors' psychology.
Foreigners started to buy inagain, concluding April 1 as net buyers on both exchanges with a totalnet value of 101 billion VND (4.8 million USD) worth of shares.
"However,such a small value did not have much of an impact on the market trend.The risk of capital withdrawal from Market Vectors Vietnam (VNM) ETFstill exists," analysts of FPT Securities Co wrote, noting that thevalue of the fund certificate on the New York Stock Exchange dropped forthree consecutive days in the past week.-VNA
The VN-Index on the Ho Chi Minh City Stock Exchangeclosed down 1.31 percent at 583.85 points, the biggest loss in threeweeks. On the Hanoi Stock Exchange, the HNX-Index plunged 3.3 percent to86.49 points.
A total of nearly 288 million shares and fundcertificates worth a combined 4.2 trillion VND (199 million USD) weretraded on the two bourses on April 1.
More and more investorshesitated to buy shares at high prices, which made many shares losevalue. Up to 440 of the 683 shares declined and 100 fell to their floorprices. Only 80 shares posted gains, most of which were small- andmid-cap shares.
On the HCM Stock Exchange, blue chips continuedto weigh on the market as only three of the top 30 shares by marketvalue and liquidity rose while 26 declined. The VN30 went down 1.54percent to end at 660.13 points.
The largest insurer in Vietnam,Bao Viet Holdings (BVH), was the biggest loser with a drop of 4.2percent to 43,200 VND (2.05 USD).
The HNX30, which tracks the top 30 shares on the Hanoi bourse, also sank 3.92 percent to 176.78 points.
TanTao Investment Industry Corp (ITA) was the most active stock nationwideon total trades of 21.2 million shares. ITA plunged 6 percent to 9,500VND a share, the low price of 10 days ago which attracted investors tobargain.
According to analysts of FPT Securities Co, the sellingpressure was not strong and weak demand could not help the marketsustain the rising momentum. Furthermore, long net selling by foreigninvestors, especially concentrating on large-cap stocks, affecteddomestic investors' psychology.
Foreigners started to buy inagain, concluding April 1 as net buyers on both exchanges with a totalnet value of 101 billion VND (4.8 million USD) worth of shares.
"However,such a small value did not have much of an impact on the market trend.The risk of capital withdrawal from Market Vectors Vietnam (VNM) ETFstill exists," analysts of FPT Securities Co wrote, noting that thevalue of the fund certificate on the New York Stock Exchange dropped forthree consecutive days in the past week.-VNA
