Two benchmark indices on the Vietnamese stock market on August 24 sank to their lowest points since the beginning of the year, piercing through the psychological landmarks of 440 in HCM City and 130 in Hanoi.
On the HCM Stock Exchange, the VN-Index lost a whopping 3 percent over August 23's trades to close on August 24 at 434.42.
Meanwhile, on the Hanoi exchange, the HNX-Index dropped by 3.63 percent to close at 124.4, which is the lowest closing number since May 6, 2009.
About 90 percent of shares declined on August 24 across both bourses, including 233 in HCM City and 284 in Hanoi out of the total 583 shares. More than 300 codes dropped to their floor prices in the day.
Although the consumer price index (CPI) increased by 0.23 percent in August, investor continued to worry about inflation in September, which is likely to be caused by a hike in fuel prices and the depreciation of the dong against the US dollar.
An overnight decline on Wall Street also spurred August 24's poor performance.
However, bottom-catching investors actively participated in the day's trading that lifted both the market's volume and value on the two bourses.
On the HCM City exchange, trading volume doubled, topping 46.74 million shares, while the value of the day's trades rose by 88 percent to 1.15 trillion VND (59.8 million USD).
On the Hanoi bourse, the market volume increased by 80 percent to 34.8 million shares worth a combined 773.7 million VND (40.1 million USD), which was an increase of 65 percent from the previous session's value.
The slump of blue chip stocks were attributed to the domestic market's poor performance on August 24.
Sacombank (STB), the most active stock on the southern bourse with a volume of 1.53 million shares, slid by 1.26 percent to close at 15,700 VND (0.81 USD).
PetroVietnam Construction (PVX) was still the most active share nationwide with more than 5 million shares changing hands, but the stock dropped by 4.42 percent and closed at 21,400 VND (1.11 USD).
Foreign investors returned to being net buyers after purchasing 14 billion VND (725,400 USD) in shares on the HCM City bourse. On the HaNoi exchange, foreign investors were net sellers after they unloaded 255,000 shares worth 4.5 billion VND (235,300 USD)./.
On the HCM Stock Exchange, the VN-Index lost a whopping 3 percent over August 23's trades to close on August 24 at 434.42.
Meanwhile, on the Hanoi exchange, the HNX-Index dropped by 3.63 percent to close at 124.4, which is the lowest closing number since May 6, 2009.
About 90 percent of shares declined on August 24 across both bourses, including 233 in HCM City and 284 in Hanoi out of the total 583 shares. More than 300 codes dropped to their floor prices in the day.
Although the consumer price index (CPI) increased by 0.23 percent in August, investor continued to worry about inflation in September, which is likely to be caused by a hike in fuel prices and the depreciation of the dong against the US dollar.
An overnight decline on Wall Street also spurred August 24's poor performance.
However, bottom-catching investors actively participated in the day's trading that lifted both the market's volume and value on the two bourses.
On the HCM City exchange, trading volume doubled, topping 46.74 million shares, while the value of the day's trades rose by 88 percent to 1.15 trillion VND (59.8 million USD).
On the Hanoi bourse, the market volume increased by 80 percent to 34.8 million shares worth a combined 773.7 million VND (40.1 million USD), which was an increase of 65 percent from the previous session's value.
The slump of blue chip stocks were attributed to the domestic market's poor performance on August 24.
Sacombank (STB), the most active stock on the southern bourse with a volume of 1.53 million shares, slid by 1.26 percent to close at 15,700 VND (0.81 USD).
PetroVietnam Construction (PVX) was still the most active share nationwide with more than 5 million shares changing hands, but the stock dropped by 4.42 percent and closed at 21,400 VND (1.11 USD).
Foreign investors returned to being net buyers after purchasing 14 billion VND (725,400 USD) in shares on the HCM City bourse. On the HaNoi exchange, foreign investors were net sellers after they unloaded 255,000 shares worth 4.5 billion VND (235,300 USD)./.
