Shares retreated on August 17 on the nation's stock exchanges, reversing Mon-day's unexpected rebound.
On the HCM Stock Exchange, the VN-Index lost 0.27 percent of its value to close at 463.52. Market volume fell 10 percent from the previous session to 36.5 million shares, worth only 1 trillion VND (55.2 million USD).
On the Hanoi Stock Exchange, the HNX-Index slid by an even more dramatic 2.8 percent to end the session at 136.19 points. Trading volume declined by 15 percent to just over 29 million shares, worth just 730 billion VND (38 million USD) in total.
Both benchmark indices opened in negative territory as sell orders increased amid weak demand. The VN-Index dropped below 460 in continuous order matching before rising back to 463, supported by the recovery of a number of blue chips at the latter half of the session.
Those shares include Vietcombank (VCB), Sacombank (STB), software giant FPT (FPT), food giant Masan Group (MSN), PetroVietnam Drilling (PVD), PetroVietnam Finance (PVF), Vietnam-Italy Steel (VIS), insurer Bao Viet Holdings (BVH) and Pomina Steel (POM).
STB, the most-active share with 1.5 million changing hands, closed up 0.63 percent to 16,000 VND (0.83 USD) per share.
By contrast, the Hanoi market, dominated by penny stocks and mid-cap shares, lacked the sustaining influence of a modest revival in blue chips. Among larger cap shares on the northern market, many continued to shed value, including Petro-Vietnam Construction (PVX), Kim Long Securities Co (KLS), PetroVietnam Insurance (PVI) and Sai Gon-Hanoi Bank (SHB).
PVX was, once again, the most-active share nationwide, with a volume of 4 million traded. PVX closed down 0.84 percent to 24,500 VND (1.28 USD) per share.
August 17's market decline was expected by many analysts.
Bao Viet Securities analyst Nguyen Duc Thi said he was wary of any market uptrend as demand was weak and pressure to sell high.
"The market is likely to fluctuate in the coming sessions, easing off sell pressures before heading toward a more stable rise," Thi said.
Vietnam Industrial Securities Co analyst Nguyen Thai Son said increased sell orders during on August 17's session on the HCM City market was only exploratory.
"Many investors remain cautious over the possibility of a ‘bull-trap' and are hesitating to buy in," Son said.
Foreign investors concluded on August 17 as net buyers on both exchanges, picking up a net of 2.5 million shares worth a combined 85 billion VND (4.4 million USD)./.
On the HCM Stock Exchange, the VN-Index lost 0.27 percent of its value to close at 463.52. Market volume fell 10 percent from the previous session to 36.5 million shares, worth only 1 trillion VND (55.2 million USD).
On the Hanoi Stock Exchange, the HNX-Index slid by an even more dramatic 2.8 percent to end the session at 136.19 points. Trading volume declined by 15 percent to just over 29 million shares, worth just 730 billion VND (38 million USD) in total.
Both benchmark indices opened in negative territory as sell orders increased amid weak demand. The VN-Index dropped below 460 in continuous order matching before rising back to 463, supported by the recovery of a number of blue chips at the latter half of the session.
Those shares include Vietcombank (VCB), Sacombank (STB), software giant FPT (FPT), food giant Masan Group (MSN), PetroVietnam Drilling (PVD), PetroVietnam Finance (PVF), Vietnam-Italy Steel (VIS), insurer Bao Viet Holdings (BVH) and Pomina Steel (POM).
STB, the most-active share with 1.5 million changing hands, closed up 0.63 percent to 16,000 VND (0.83 USD) per share.
By contrast, the Hanoi market, dominated by penny stocks and mid-cap shares, lacked the sustaining influence of a modest revival in blue chips. Among larger cap shares on the northern market, many continued to shed value, including Petro-Vietnam Construction (PVX), Kim Long Securities Co (KLS), PetroVietnam Insurance (PVI) and Sai Gon-Hanoi Bank (SHB).
PVX was, once again, the most-active share nationwide, with a volume of 4 million traded. PVX closed down 0.84 percent to 24,500 VND (1.28 USD) per share.
August 17's market decline was expected by many analysts.
Bao Viet Securities analyst Nguyen Duc Thi said he was wary of any market uptrend as demand was weak and pressure to sell high.
"The market is likely to fluctuate in the coming sessions, easing off sell pressures before heading toward a more stable rise," Thi said.
Vietnam Industrial Securities Co analyst Nguyen Thai Son said increased sell orders during on August 17's session on the HCM City market was only exploratory.
"Many investors remain cautious over the possibility of a ‘bull-trap' and are hesitating to buy in," Son said.
Foreign investors concluded on August 17 as net buyers on both exchanges, picking up a net of 2.5 million shares worth a combined 85 billion VND (4.4 million USD)./.
