Vietnamese stock markets witnessed a great slump in share prices as selling pressure continued to surge on November 18.
Atthe Hochiminh Stock Exchange, the VN-Index closed at 594.25 points,losing by 1.11 percent. The VN30 Index, which tracks the 30 leadingstocks in capitalisation and liquidity, also fell by 1.47 percent to627.84 points.
Trading value jumped by 35 percent over theNvember 17 session to 2.7 trillion VND (127.3 million USD) on a volumeof 143.9 million shares.
Across the board, a total of 135 out of 287 stocks declined.
Withthe November 18 decreasing speed, FPT Securities analysts predicted theVN-Index would continue to slide and possibly reach 580 points.
There was no bad news in the market, "but investors lost their patience", they said.
However,Bao Viet Securities Company analyst Tran Duc Anh advised investors tobuy during such declining sessions to assist their short-term tradingpurposes since stocks were associated with good results and had notincreased strongly.
At the Hanoi Stock Exchange, the HNX-Indexlikewise dropped by 0.69 percent to 90.25 points. Transaction valuereached 1.12 trillion VND (52.8 million USD).
The negative performance of blue chips in Hanoi drove the HNX30 Index 1.14 percent lower to 183 points.
Whileshares plunged, the exchange rate of commercial banks hit a new high.Each US dollar now costs up to 21,420 VND, a 25- to 60-dong increase.The interbank rate remained at 21,246 VND to a US dollar.-VNA
Atthe Hochiminh Stock Exchange, the VN-Index closed at 594.25 points,losing by 1.11 percent. The VN30 Index, which tracks the 30 leadingstocks in capitalisation and liquidity, also fell by 1.47 percent to627.84 points.
Trading value jumped by 35 percent over theNvember 17 session to 2.7 trillion VND (127.3 million USD) on a volumeof 143.9 million shares.
Across the board, a total of 135 out of 287 stocks declined.
Withthe November 18 decreasing speed, FPT Securities analysts predicted theVN-Index would continue to slide and possibly reach 580 points.
There was no bad news in the market, "but investors lost their patience", they said.
However,Bao Viet Securities Company analyst Tran Duc Anh advised investors tobuy during such declining sessions to assist their short-term tradingpurposes since stocks were associated with good results and had notincreased strongly.
At the Hanoi Stock Exchange, the HNX-Indexlikewise dropped by 0.69 percent to 90.25 points. Transaction valuereached 1.12 trillion VND (52.8 million USD).
The negative performance of blue chips in Hanoi drove the HNX30 Index 1.14 percent lower to 183 points.
Whileshares plunged, the exchange rate of commercial banks hit a new high.Each US dollar now costs up to 21,420 VND, a 25- to 60-dong increase.The interbank rate remained at 21,246 VND to a US dollar.-VNA
