Market value hits one-month low
The combined market value on the nation's two stock exchanges fell to
its lowest level in a month in yesterday's trading, reaching less than
700 billion VND (34 million USD).
The combined market value on the nation's two stock exchanges fell to
its lowest level in a month in yesterday's trading, reaching less than
700 billion VND (34 million USD).
Ending the session, many shares fell below their reference prices and failed to find buyers.
On the HCM Stock Exchange, the VN-Index gained in the opening minutes of the session but collapsed soon before closing down 1.1 percent from the previous day to 434.75 points. The volume of trades fell to just 318.1 billion VND (15.4 million USD), a 51-per-cent decrease from June23's session, on a volume of just under 20 million shares.
Only 53 codes advanced while 168 lost ground.
Of the 10 leading shares by capitalisation, PetroVietnam Finance (PVF) hit the floor and six others plunged by 1-3.7 percent. Eximbank (EIB) and Sacombank (STB) closed unchanged.
Only real estate developer Vincom (VIC) advanced, closing up 3.2 percent to 130,000 VND (6.30 USD) per share.
On the Hanoi Stock Exchange, the HNX-Index declined by 1.5 percent to end the session at 75.26 points. The value of trades reached just 322.2 billion VND (15.6 million USD) on a volume of 26.4 million shares.
Decliners outnumbered advancers by 215-59, while Kim Long Securities Co (KLS) claimed the spot as most-active share nationwide, with 3.2 million traded.
Foreign investors were net sellers on both bourses, unloading shares worth a net of 7 billion VND (339,800 USD).
"The market is unlikely to see a strong rally soon," said Bao Viet Securities Co analyst Tran Hai Yen. "However, I think trading next month will be more secure."
The Ministry of Finance has completed a support plan for taxpayers and will submit it to the coming Government meeting for approval, Yen said. If approved, income taxes on gains from securities investments and dividend income would be exempted from August 1 until the end of 2012. /.
Ending the session, many shares fell below their reference prices and failed to find buyers.
On the HCM Stock Exchange, the VN-Index gained in the opening minutes of the session but collapsed soon before closing down 1.1 percent from the previous day to 434.75 points. The volume of trades fell to just 318.1 billion VND (15.4 million USD), a 51-per-cent decrease from June23's session, on a volume of just under 20 million shares.
Only 53 codes advanced while 168 lost ground.
Of the 10 leading shares by capitalisation, PetroVietnam Finance (PVF) hit the floor and six others plunged by 1-3.7 percent. Eximbank (EIB) and Sacombank (STB) closed unchanged.
Only real estate developer Vincom (VIC) advanced, closing up 3.2 percent to 130,000 VND (6.30 USD) per share.
On the Hanoi Stock Exchange, the HNX-Index declined by 1.5 percent to end the session at 75.26 points. The value of trades reached just 322.2 billion VND (15.6 million USD) on a volume of 26.4 million shares.
Decliners outnumbered advancers by 215-59, while Kim Long Securities Co (KLS) claimed the spot as most-active share nationwide, with 3.2 million traded.
Foreign investors were net sellers on both bourses, unloading shares worth a net of 7 billion VND (339,800 USD).
"The market is unlikely to see a strong rally soon," said Bao Viet Securities Co analyst Tran Hai Yen. "However, I think trading next month will be more secure."
The Ministry of Finance has completed a support plan for taxpayers and will submit it to the coming Government meeting for approval, Yen said. If approved, income taxes on gains from securities investments and dividend income would be exempted from August 1 until the end of 2012. /.
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