Shares fall on economic fears

Shares continued to fall during October 2's session as a scandal that hit the banking sector continues to weigh down on the stock market.
Shares continued to fall during October 2's session as a scandal that hit the banking sector continues to weigh down on the stock market.

However, the decline on the bourse was slower than on Oct 1.

In positive developments, the HCM Stock Exchange began applying market orders in trading from Oct. 2.

Brokers can now buy or sell stocks immediately at the best available current prices, and are not restricted on the buy/sell price or the time frame in which the order can be executed.

After three months of pilot execution, the exchange officially applied this type of continuous order matching to increasing liquidity by improving conditions for both buyers and sellers in terms of order matching speed for trades.

On the southern exchange, most stocks closed unchanged from the previous session. Eighty listed shares managed to post gains but failed to boost an earlier rally of the VN-Index. The index ended the day 0.58 percent lower at 384.32 points.

The VN30, representing the bourse's top shares, reached 448.97 points after losing 0.57 percent.

Among the 30 stocks tracked by the VN30, five blue-chips edged up, while property developer Tan Tao (ITA), financial firm Ocean Group (OGC) and PetroVietnam Finance (PVF) continued to bottom out.

The overall value of trades reached 357.5 billion VND (17 million USD) on a volume of nearly 26.1 million shares.

On the Hanoi Stock Exchange, trading was more sluggish. Market value stood at just 136.6 billion VND (6.5 million USD), as only 21.56 million shares changed hands.

The HNX-Index retreated 0.6 percent to 53.94 points. Blue chips sent the HNX30 down 0.34 percent, fetching 99.56 points.-VNA

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