Shares extended their losing streak on July 23 on the Ho Chi Minh Stock Exchange, as about 20 listed enterprises reported losses in the second quarter of this year.

Unprofitable securities firms still accounted for a large proportion of these companies, with six brokerages posting losses, including Trang An Securities (TAS), Sai Gon-Ha Noi Securities (SHS), Sao Viet Securities (SVS), Phu Hung Securities (PHS), Kim Long Securities (KLS) and Phuong Dong Securities (ORS).

The VN-Index fell by 0.6 percent to 421.99 points as losers overwhelmed gainers by 169-70. The value of trades dropped 26 percent from the previous session’s figure to 783.5 billion VND (37.3 million USD) on a volume of nearly 50.7 million shares.

Four major blue chips bucked the downward trend, with Ho Chi Minh City Infrastructure Investment Co (CII), Phu My Fertilisers (DPM), steelmaker Hoa Phat (HPG) and Sacombank (STB) all gaining 0.9-3.1 percent on the day. Together, however, they failed to lift the VN30 Index, which tumbled by 0.3 percent to close at 495.86 points.

The exchange started to revise the basket of 30 shares tracked by the VN30. Da Nang Rubber Co (DRC), steelmaker Hoa Sen Group (HSG), Military Bank (MBB) and property developer Tu Liem Urban Development Co (NTL) replaced food processor Hung Vuong (HVG) and property developers Quoc Cuong Gia Lai (QCG), Khang Dien House (KDH) and Sudico (SJS) in the index calcuation.

None of these new shares advanced on the session.

In the first six months of the year, shares in the VN30 had an average market capitalisation of around 476 billion VND (22.6 million USD) per day, accounting for 72 percent of the entire market, the State Securities Commission said. They accounted for average trading value of nearly 86.2 billion VND (4 million USD) daily, or 62 percent of the market.

After the revisions to the VN30 Index, the index focuses on three major sectors, the commission said. "They are finance, 10 companies; manufacturing and processing, 7 companies; and real estate, 5 companies."

On the Hanoi Stock Exchange, the HNX-Index lost 1 percent to stand at just 71.46 points. Meagre trades on the Hanoi bourse totalled only 509 billion VND (24.2 million USD), 16 percent below the previous session. The volume of trades dropped 32 percent to just 43.6 million shares.

The HNX30, tracking the capital city's leading shares in terms of capitalisation and liquidity, fell 0.94 percent to 137.37 points.-VNA