Shares slide rapidly on both exchanges
Indexes on the nation's two stock exchanges lost the previous days'
momentum, tumbling on January 30 due to the impacts of Circular 36,
which limits bank lending for securities investments.
Indexes on the nation's two stock exchanges lost the previous days'
momentum, tumbling on January 30 due to the impacts of Circular 36,
which limits bank lending for securities investments.
The day January 30 saw the last session before the effect of the circular, and contrary to previous sessions, bank stocks dragged the market down as Vietcombank (VCB), the Bank for Investment and Development (BID), Vietinbank (CTG) and Eximbank (EIB) fell 2-4 percent.
The decline then spread to securities stocks, including Sai Gon Securities Inc (SSI), HCM City Securities (HCM), Sai Gon-Hanoi Securities (SHS), Bao Viet Securities (BVS) and VNDirect Securities (VND).
Despite opinions from experts and bank officials that the regulation would create a healthy banking system and, in the long term, enhance the value of the stock market, investors still feared losses from their portfolios.
On the Hochiminh Stock Exchange, the VN-Index lost 1.24 percent to reach 576.07 points.
The VN30 Index, tracking the 30 largest stocks in terms of capitalisation and liquidity, also declined 1.2 percent to 606.54 points. Also, the value of trading reached 1.85 trillion VND (86.85 million USD) on a volume of 102.2 million shares.
On the Hanoi Stock Exchange, the HNX-Index dropped 1.6 percent to end at 85.56 points, while the HNX30 Index, representing the performance of the bourse's top 30 blue chips, decreased 2.35 percent, reaching 164.48 points.
Additionally, trading value and volume reached 606.9 billion VND (28.5 million USD) and over 54.1 million shares.
Meanwhile, foreign investors increased their buying and concluded as net buyers by nearly 47 billion VND (2.2 million USD).
Real estate stock Dat Xanh (DXG) saw the heaviest buying by foreign buyers, with almost 2.5 million shares in net volume, closing with a net value of 41.12 billion VND (1.9 million USD).-VNA
The day January 30 saw the last session before the effect of the circular, and contrary to previous sessions, bank stocks dragged the market down as Vietcombank (VCB), the Bank for Investment and Development (BID), Vietinbank (CTG) and Eximbank (EIB) fell 2-4 percent.
The decline then spread to securities stocks, including Sai Gon Securities Inc (SSI), HCM City Securities (HCM), Sai Gon-Hanoi Securities (SHS), Bao Viet Securities (BVS) and VNDirect Securities (VND).
Despite opinions from experts and bank officials that the regulation would create a healthy banking system and, in the long term, enhance the value of the stock market, investors still feared losses from their portfolios.
On the Hochiminh Stock Exchange, the VN-Index lost 1.24 percent to reach 576.07 points.
The VN30 Index, tracking the 30 largest stocks in terms of capitalisation and liquidity, also declined 1.2 percent to 606.54 points. Also, the value of trading reached 1.85 trillion VND (86.85 million USD) on a volume of 102.2 million shares.
On the Hanoi Stock Exchange, the HNX-Index dropped 1.6 percent to end at 85.56 points, while the HNX30 Index, representing the performance of the bourse's top 30 blue chips, decreased 2.35 percent, reaching 164.48 points.
Additionally, trading value and volume reached 606.9 billion VND (28.5 million USD) and over 54.1 million shares.
Meanwhile, foreign investors increased their buying and concluded as net buyers by nearly 47 billion VND (2.2 million USD).
Real estate stock Dat Xanh (DXG) saw the heaviest buying by foreign buyers, with almost 2.5 million shares in net volume, closing with a net value of 41.12 billion VND (1.9 million USD).-VNA
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