Shares continued to slide on May 29 despite positive news about interest rates and predictions by some analysts that stocks on the domestic market could surge by as much as 65 percent next year.
On the HCM Stock Exchange, the VN-Index retreated by nearly a percent to 431.44 points, while the VN30 Index, tracking the market's top 30 shares, also shed 0.5 percent to close at 510.81 points.
The volume of trades reached only 47.7 million shares, however, for a total value of 720.3 billion VND (34.3 million USD), a 24.3 percent decrease from the previous day's level.
A few blue chips managed to post gains during afternoon trading, helping constrain the declines of indices, including Becamex Infrastructure Co (IJC), Sacombank (STB), property and entertainment services developer VinGroup (VIC), dairy giant Vinamilk (VNM) and sugar processor Bourbon Tay Ninh (SBT), which hit its ceiling price of 19,100 VND per share.
During a May 29 meeting, State Securities Commission chairman Vu Bang announced some possible changes to boost the market.
"Market liquidity remains a big problem even after trading hours were extended," Bang said. Trading margin ratios had also limited the natural movement of prices, he added. The commission was therefore likely to suspend trading for 30 minutes on stocks that fluctuated over 10 percent.
To both lure foreign investment and protect domestic benefits, Bang said the ministries of finance and planning and investment should allow foreign investors to put more money into domestic firms by means of a special class of non-voting shares.
On the Hanoi Stock Exchange, the HNX-Index fell by 0.4 percent to just 75.30 points. Only 32 million shares were traded, for an overall value of 333.26 billion VND (15.8 million USD), half of the previous day's value.
Real estate developer Sacomreal (SCR) was the most-active share nationwide with around 3.2 million traded.
Foreign investors concluded on May 29 as buyers on both bourses but by a net margin of only 10.3 billion VND (490,470 USD)-VNA
On the HCM Stock Exchange, the VN-Index retreated by nearly a percent to 431.44 points, while the VN30 Index, tracking the market's top 30 shares, also shed 0.5 percent to close at 510.81 points.
The volume of trades reached only 47.7 million shares, however, for a total value of 720.3 billion VND (34.3 million USD), a 24.3 percent decrease from the previous day's level.
A few blue chips managed to post gains during afternoon trading, helping constrain the declines of indices, including Becamex Infrastructure Co (IJC), Sacombank (STB), property and entertainment services developer VinGroup (VIC), dairy giant Vinamilk (VNM) and sugar processor Bourbon Tay Ninh (SBT), which hit its ceiling price of 19,100 VND per share.
During a May 29 meeting, State Securities Commission chairman Vu Bang announced some possible changes to boost the market.
"Market liquidity remains a big problem even after trading hours were extended," Bang said. Trading margin ratios had also limited the natural movement of prices, he added. The commission was therefore likely to suspend trading for 30 minutes on stocks that fluctuated over 10 percent.
To both lure foreign investment and protect domestic benefits, Bang said the ministries of finance and planning and investment should allow foreign investors to put more money into domestic firms by means of a special class of non-voting shares.
On the Hanoi Stock Exchange, the HNX-Index fell by 0.4 percent to just 75.30 points. Only 32 million shares were traded, for an overall value of 333.26 billion VND (15.8 million USD), half of the previous day's value.
Real estate developer Sacomreal (SCR) was the most-active share nationwide with around 3.2 million traded.
Foreign investors concluded on May 29 as buyers on both bourses but by a net margin of only 10.3 billion VND (490,470 USD)-VNA
