Shares sink to year-low on massive sell-off

The VN-Index sank on August 9 to 472.74 – its lowest point of the year – after shedding 10 points, 2.09 percent down on last week's close.
The VN-Index sank on August 9 to 472.74 – its lowest point of theyear – after shedding 10 points, 2.09 percent down on last week's close.

The fall was the largest for two months.

Meanwhile, market liquidity rose on the HCM Stock Exchange, with 43million shares changing hands, worth nearly 1.2 trillion VND (63.2million USD), an increase of more than 18 percent in volume and 16percent in value over the previous day's levels.

Decliners outnumbered gainers by 224-16, with 73 codes hitting theirfloor price. Refrigeration Electrical Engineering Corp (REE) was themost active share in terms of volume, with more than 1.7 millionchanging hands. Its share price lost 3.4 percent to close at 17,000 VND(0.89 USD).

On the Hanoi Stock Exchange, theHNX-Index dropped 2.9 percent to close at 141.9 – its lowest point sinceDecember 18 2009. Trading volume rose 30 percent to nearly 35.8 millionshares, worth a combined 934 billion VND (49.2 million USD), anincrease of 27 percent over the previous day's value.

Market performance was negative with 251 shares declining, 44advancing and 13 closing unchanged. PetroVietnam Construction (PVX)continued to top market volume, with 4.32 million shares changing hands.However, share value sank 4.71 percent to close at 24,300 VND (1.28USD).

Bac Viet Steel Co (BVG) listed 9.7 millionshares – its first floatation on the northern bourse. About 13,000 unitschanged hands, ending the day's trade at 21,000 VND (1.11 USD)./.

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