The VN-Index saw its biggest loss in three months, hitting a 2015 low at538.91 points on April 1, a 2.22 percent drop from the previous day asinvestors increased selling for fear of a further decline.
Ho Chi Minh City's market condition was negative as losers outweighed gainers by 198-38, while 72 ended flat.
Blue chips led the downturn, particularly in oil and gas shares.
PVGas (GAS), the biggest stock in terms of market value, dived sixpercent. PetroVietnam Drilling and Wells Service Corp (PVD) plunged bymore than four percent.
Other oil stocks - PVCPetro Capital & Infrastructure Investment (PTL), IDICO PetroleumTrading Construction Investment (PXL) and Petroleum Equipment Assembly& Metal Structure (PXS) - lost between 4-6 percent each.
Bank shares, which were previously building momentum in the market,lost their shine as large-cap stocks like Military Bank (MBB), Bank forInvestment and Development of Vietnam (BID), Vietinbank (CTG) andEximbank (EIB) plunged 1.7-3 percent.
The VN30, which tracks the top 30 shares by market value and liquidity, was down 1.81 percent to close at 569.48 points.
Many analysts reckoned that the April 1 fall was the result of apowerful short-selling programme aimed at pushing the market downfurther, thereby creating pressure for investors and securitiescompanies to sell stocks pledged as collateral (margin call) at cheapprices.
Liquidity improved as both market volume andvalue climbed 50 percent over the March 31 levels, totaling 129 millionshares worth 1.982 trillion VNS (92.6 million USD).
FLC Group(FLC) became the most active stock with a whopping number of 24.4million shares traded, but its prices plummeted 6.25 percent to end at10,500 VND a share.
On the Hanoi Stock Exchange,investors' pessimism dominated the market, pulling the HNX-Index down2.19 percent to end the session at 80.47 points.
Decliners outnumbered advancers by 156-42 with 167 closing unchanged.
Liquidityalso went up in Hanoi with 42.7 million shares exchanged, worth 483.5billion VND (22.6 million USD), up 10 percent over the previous session.
KLFJoint Venture Global Investment Co (KLF) continued to be the mostactive code with 8.7 million shares traded but declined by 3.23 percentto settle at 9,000 VND a share.
Foreign investorsincreased their buys April 1 on both exchanges but their moves hadlittle impact on the market. They were responsible for a combined netbuy of 173.2 billion VND (8.1 million USD) worth of shares in the twomarkets.-VNA
Ho Chi Minh City's market condition was negative as losers outweighed gainers by 198-38, while 72 ended flat.
Blue chips led the downturn, particularly in oil and gas shares.
PVGas (GAS), the biggest stock in terms of market value, dived sixpercent. PetroVietnam Drilling and Wells Service Corp (PVD) plunged bymore than four percent.
Other oil stocks - PVCPetro Capital & Infrastructure Investment (PTL), IDICO PetroleumTrading Construction Investment (PXL) and Petroleum Equipment Assembly& Metal Structure (PXS) - lost between 4-6 percent each.
Bank shares, which were previously building momentum in the market,lost their shine as large-cap stocks like Military Bank (MBB), Bank forInvestment and Development of Vietnam (BID), Vietinbank (CTG) andEximbank (EIB) plunged 1.7-3 percent.
The VN30, which tracks the top 30 shares by market value and liquidity, was down 1.81 percent to close at 569.48 points.
Many analysts reckoned that the April 1 fall was the result of apowerful short-selling programme aimed at pushing the market downfurther, thereby creating pressure for investors and securitiescompanies to sell stocks pledged as collateral (margin call) at cheapprices.
Liquidity improved as both market volume andvalue climbed 50 percent over the March 31 levels, totaling 129 millionshares worth 1.982 trillion VNS (92.6 million USD).
FLC Group(FLC) became the most active stock with a whopping number of 24.4million shares traded, but its prices plummeted 6.25 percent to end at10,500 VND a share.
On the Hanoi Stock Exchange,investors' pessimism dominated the market, pulling the HNX-Index down2.19 percent to end the session at 80.47 points.
Decliners outnumbered advancers by 156-42 with 167 closing unchanged.
Liquidityalso went up in Hanoi with 42.7 million shares exchanged, worth 483.5billion VND (22.6 million USD), up 10 percent over the previous session.
KLFJoint Venture Global Investment Co (KLF) continued to be the mostactive code with 8.7 million shares traded but declined by 3.23 percentto settle at 9,000 VND a share.
Foreign investorsincreased their buys April 1 on both exchanges but their moves hadlittle impact on the market. They were responsible for a combined netbuy of 173.2 billion VND (8.1 million USD) worth of shares in the twomarkets.-VNA
