A majority of shares on both of the nation's stock exchanges lost value Hanoi , pushing benchmark indices into a steep decline.
Vietnam 's securities market is in a very dangerous situation with investors losing all confidence and technical analysis is no longer effective in predicting transactions, the director of the brokerage division of MHB Securities Co, Hoang Thach Lan, wrote in a note.
"It's hard to imagine what will happen if the two indices continue to slide and constanly establish new record lows," Lan said. "If the stock market plunged predictably, as a ball drops, it will fall quickly and bounce back. But when the market slides slowly like this, it will be very difficult to rebound."
On the HCM Stock Exchange, the VN-Index declined by another 1.38 percent from the previous day, closing the session at 347.80 points, with decliners overwhelming advancers by a margin of 182-52.
Investors continued to unload shares, pushing the value of transactions up by nearly 12 percent to 808.8 billion VND (38.5 million USD), with over 57.4 million shares traded.
Over 100 codes dropped to their floor prices, including such large caps as insurer Bao Viet Holdings (BVH), steelmaker Hoa Phat Group (HPG), PetroVietnam Finance (PVF) and property developers Hoang Anh Gia Lai (HAG), Kinh Do City Development (KBC) and Tan Tao Investment and Industry (ITA).
Of the 10 leading shares by capitalisation, only Sacombank (STB) gained, closing up by 3.3 percent to 15,800 VND (0.75 USD) per share and becoming the most-active share on a volume of over 5.5 million. Another 19 million STB shares, worth 297 billion VND (14 million USD), were also exchanged through negotiation at a price of 16,000 VND per share, lifting the total of shares traded through negotiation in the past two months to nearly 160 million.
On the Hanoi Stock Exchange, the HNX-Index concluded the day at 56.70 points, off 0.82 percent from Monday, with gainers outnumbering losers by 189-51. With investors hunting for bargains, the value of trades rose by 18 percent to nearly 312.6 billion VND (14.9 million USD) on a volume of 36.4 million shares.
Shares in securities companies continued to slide, with Kim Long Securities (KLS) and VNDirect Securities (VND) – the two most-active shares on the northern bourse, with volumes of 4.37 million shares and 3.1 million, respectively – dropping to their floor prices.
Foreign investors continued to unload shares in HCM City and were responsible for a net sale of 254.6 billion VND (12 million USD) worth of shares, but they remained net buyers of over 5 billion VND (238,000 USD) worth of shares in Hanoi./.
Vietnam 's securities market is in a very dangerous situation with investors losing all confidence and technical analysis is no longer effective in predicting transactions, the director of the brokerage division of MHB Securities Co, Hoang Thach Lan, wrote in a note.
"It's hard to imagine what will happen if the two indices continue to slide and constanly establish new record lows," Lan said. "If the stock market plunged predictably, as a ball drops, it will fall quickly and bounce back. But when the market slides slowly like this, it will be very difficult to rebound."
On the HCM Stock Exchange, the VN-Index declined by another 1.38 percent from the previous day, closing the session at 347.80 points, with decliners overwhelming advancers by a margin of 182-52.
Investors continued to unload shares, pushing the value of transactions up by nearly 12 percent to 808.8 billion VND (38.5 million USD), with over 57.4 million shares traded.
Over 100 codes dropped to their floor prices, including such large caps as insurer Bao Viet Holdings (BVH), steelmaker Hoa Phat Group (HPG), PetroVietnam Finance (PVF) and property developers Hoang Anh Gia Lai (HAG), Kinh Do City Development (KBC) and Tan Tao Investment and Industry (ITA).
Of the 10 leading shares by capitalisation, only Sacombank (STB) gained, closing up by 3.3 percent to 15,800 VND (0.75 USD) per share and becoming the most-active share on a volume of over 5.5 million. Another 19 million STB shares, worth 297 billion VND (14 million USD), were also exchanged through negotiation at a price of 16,000 VND per share, lifting the total of shares traded through negotiation in the past two months to nearly 160 million.
On the Hanoi Stock Exchange, the HNX-Index concluded the day at 56.70 points, off 0.82 percent from Monday, with gainers outnumbering losers by 189-51. With investors hunting for bargains, the value of trades rose by 18 percent to nearly 312.6 billion VND (14.9 million USD) on a volume of 36.4 million shares.
Shares in securities companies continued to slide, with Kim Long Securities (KLS) and VNDirect Securities (VND) – the two most-active shares on the northern bourse, with volumes of 4.37 million shares and 3.1 million, respectively – dropping to their floor prices.
Foreign investors continued to unload shares in HCM City and were responsible for a net sale of 254.6 billion VND (12 million USD) worth of shares, but they remained net buyers of over 5 billion VND (238,000 USD) worth of shares in Hanoi./.
