Stocks slumped as discouraged investors sold off shares deemed ineligible for margin trading by the two national stock exchanges on Oct. 12.
Ninety-seven shares listed on the Hanoi Stock Exchange and 56 shares on the HCM Stock Exchange were deemed unqualified for margin trading because they had posted losses, had been the subject of a warning, had assets-per-share below share face value, or had been listed for fewer than six months. About 100 of the shares were made ineligible for margin trading due to the losses they had incurred in the first six months of this year.
The list included such high-profile stocks as Saigon Securities Inc (SSI), real estate developer Hoang Quan (HQC), Kim Long Securities Co (KLS), VNDirect Securities Co (VND) and Bao Viet Securities Co (BVS) – five of the most-active shares on both bourses.
Accordingly, all plunged to their floor prices on Oct. 12 , seeing high trading volumes. KLS was the most-active on the day, with 6.35 million shares traded.
Some other shares that have seen recent hot streaks were also on the list, including construction giant Vinaconex (VCG), PetroVietnam-Nghe An Construction Co (PVA) and Sai Gon – Hanoi Securities Co (SHS).
A source from the HCM City Stock Exchange also announced that the list would be updated quarterly, no later than three days after the end of each quarter.
The southern bourse's benchmark VN-Index lost 1.63 percent overall to conclude the session at 410.91 points.
Decliners outnumbered advancers by a substantial 196-36, as the value of trades edged up by 15.6 percent over the previous day's session to 513 billion VND (24.8 million USD) on a volume of over 35 million shares.
All of the listed PetroVietnam subsidiaries tumbled, with six of them falling to their floor prices, including PetroVietnam Finance (PVF), one of the 10 leading shares by capitalisation. Other blue chips retreated by about 0.4-2.9 percent.
On the Ha Noi Stock Exchange, the HNX-Index declined by over 2 percent to close at 69.48 points. The value of trades surged by 83 percent from Oct, 11's level to 462 billion VND (22.3 million USD) on a volume of 44.6 million shares, as domestic investors raced to unload stocks./.
Ninety-seven shares listed on the Hanoi Stock Exchange and 56 shares on the HCM Stock Exchange were deemed unqualified for margin trading because they had posted losses, had been the subject of a warning, had assets-per-share below share face value, or had been listed for fewer than six months. About 100 of the shares were made ineligible for margin trading due to the losses they had incurred in the first six months of this year.
The list included such high-profile stocks as Saigon Securities Inc (SSI), real estate developer Hoang Quan (HQC), Kim Long Securities Co (KLS), VNDirect Securities Co (VND) and Bao Viet Securities Co (BVS) – five of the most-active shares on both bourses.
Accordingly, all plunged to their floor prices on Oct. 12 , seeing high trading volumes. KLS was the most-active on the day, with 6.35 million shares traded.
Some other shares that have seen recent hot streaks were also on the list, including construction giant Vinaconex (VCG), PetroVietnam-Nghe An Construction Co (PVA) and Sai Gon – Hanoi Securities Co (SHS).
A source from the HCM City Stock Exchange also announced that the list would be updated quarterly, no later than three days after the end of each quarter.
The southern bourse's benchmark VN-Index lost 1.63 percent overall to conclude the session at 410.91 points.
Decliners outnumbered advancers by a substantial 196-36, as the value of trades edged up by 15.6 percent over the previous day's session to 513 billion VND (24.8 million USD) on a volume of over 35 million shares.
All of the listed PetroVietnam subsidiaries tumbled, with six of them falling to their floor prices, including PetroVietnam Finance (PVF), one of the 10 leading shares by capitalisation. Other blue chips retreated by about 0.4-2.9 percent.
On the Ha Noi Stock Exchange, the HNX-Index declined by over 2 percent to close at 69.48 points. The value of trades surged by 83 percent from Oct, 11's level to 462 billion VND (22.3 million USD) on a volume of 44.6 million shares, as domestic investors raced to unload stocks./.