Shares down on both stock exchanges
Shares failed to retain previous gains on both national stock exchanges on Aug. 7.
Shares failed to retain previous gains on both national stock exchanges on Aug. 7.
On the Hanoi Stock Exchange, the HNX-Index closed at 69.58 points, 1.23 percent lower.
Trading is sluggish, and a lot of listed stocks are not traded. The value and volume of transaction on the Hanoi bourse reached 540 billion VND (25.7 million USD) and 34.86 million shares, respectively, reaching around 77 percent of Aug.6's level.
Blue chips are the major cause of the fall, with the HNX30, which represents the exchange's top 30 shares, retreating 1.94 percent to 132.34 points.
VNDirect Securities Co (VND) is the most heavily traded code with some 4.4 million shares changing hands. However, it lost 3.5 percent during the session.
On the Ho Chi Minh Stock Exchange, the VN-Index Composite edged down 0.16 percent to finish the same day at 422.50 points.
Around 33.2 million shares worth a total turnover of 548.26 billion VND (26 million USD) changed hands, declining 17.2 percent in value.
Many blue chips tracked by the VN30 tumbled, such as insurer Bao Viet Holdings (BVH), Phu My Fertiliser (DPM), property developers Tan Tao (ITA) and Hoang Anh Gia Lai (HAG), Military Bank (MBB), food processor Masan Group (MSN) and Saigon Securities Inc (SSI).
The VN30, therefore, dropped nearly 0.2 percent to 502.07 points despite the rally of major stocks – Vinamilk (VNM), property developer Vincom (VIC) and Vietcombank (VCB).
Tay Bac Mineral Co (KTB) led the market in terms of trading volume with over 2 million shares exchanged.
Aug.7's session again showed that the upward momentum is quite weak, especially when Aug.6's rally is somewhat unexpected due to the lack of convincing support information, said BIDV Securities Co analyst Hoang Anh Tuan.
"However, the declines are not too heavy," he said, "so there is little possibility the market will deeply decrease in the short term".
Current price level showed a balance in demand and supply of shares, so the market might see small fluctuations during the coming sessions, he added.
Foreign investors are net sellers in HCM City in terms of trading volume but they are buyers in terms of value, picking a margin of 11 billion VND (523,800 USD). Meanwhile, they are sellers in the Hanoi bourse, unloading 5 billion VND (238,000 USD).-VNA
On the Hanoi Stock Exchange, the HNX-Index closed at 69.58 points, 1.23 percent lower.
Trading is sluggish, and a lot of listed stocks are not traded. The value and volume of transaction on the Hanoi bourse reached 540 billion VND (25.7 million USD) and 34.86 million shares, respectively, reaching around 77 percent of Aug.6's level.
Blue chips are the major cause of the fall, with the HNX30, which represents the exchange's top 30 shares, retreating 1.94 percent to 132.34 points.
VNDirect Securities Co (VND) is the most heavily traded code with some 4.4 million shares changing hands. However, it lost 3.5 percent during the session.
On the Ho Chi Minh Stock Exchange, the VN-Index Composite edged down 0.16 percent to finish the same day at 422.50 points.
Around 33.2 million shares worth a total turnover of 548.26 billion VND (26 million USD) changed hands, declining 17.2 percent in value.
Many blue chips tracked by the VN30 tumbled, such as insurer Bao Viet Holdings (BVH), Phu My Fertiliser (DPM), property developers Tan Tao (ITA) and Hoang Anh Gia Lai (HAG), Military Bank (MBB), food processor Masan Group (MSN) and Saigon Securities Inc (SSI).
The VN30, therefore, dropped nearly 0.2 percent to 502.07 points despite the rally of major stocks – Vinamilk (VNM), property developer Vincom (VIC) and Vietcombank (VCB).
Tay Bac Mineral Co (KTB) led the market in terms of trading volume with over 2 million shares exchanged.
Aug.7's session again showed that the upward momentum is quite weak, especially when Aug.6's rally is somewhat unexpected due to the lack of convincing support information, said BIDV Securities Co analyst Hoang Anh Tuan.
"However, the declines are not too heavy," he said, "so there is little possibility the market will deeply decrease in the short term".
Current price level showed a balance in demand and supply of shares, so the market might see small fluctuations during the coming sessions, he added.
Foreign investors are net sellers in HCM City in terms of trading volume but they are buyers in terms of value, picking a margin of 11 billion VND (523,800 USD). Meanwhile, they are sellers in the Hanoi bourse, unloading 5 billion VND (238,000 USD).-VNA
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