Stock fall continues as volumes plunge
Shares continued to lose value on the
Ho Chi Minh City Stock Exchange on July 29 as trading volumes also
fell, pushing the VN-Index down 1.07 percent to close at 458.04.
Shares continued to lose value on the
Ho Chi Minh City Stock Exchange on July 29 as trading volumes also
fell, pushing the VN-Index down 1.07 percent to close at 458.04.
Activity was off 41 percent from July 28’s session, with trades totalling 1.3 trillion VND (73 million USD) on July 29 on a volume of 34.4 million shares.
On the Hanoi Stock Exchange, the HNX-Index also slid 1.71 percent to end on July 29’s trading at 152.14. Volume fell 37 percent from the previous session to 20 million shares, worth a combined 893.4 billion VND (50.2 million USD).
FPT Securities Co analysts called the downward adjustments a “very normal market reaction” after the rally of the past five days, adding that gains in financial shares were helping prop up the market and would continue to be “a hope” for the market in the coming days.
Banking and financial shares continued to be the most active on both bourses on July 29, with Sacombank (STB) accounting for 18 percent of the total volume on the southern exchange with 6.2 million shares changing hands, and Kim Long Securities (KLS) generating orders for 3.4 million shares, representing 17 percent of the total volume on the northern market.
In HCM City on July 29, net buys by foreign investors remained significant at about 2 million shares, worth a total of 117.5 billion VND (6.6 million USD), although their overall volume stayed modest at 4.9 million shares.
In Hanoi , foreign investors traded 1.2 million shares, worth a total of 54.3 billion VND (3.1 million USD). They were most interested in Tien Phong Plastics (NTP), picking up 265,100 shares, while shedding 100,000 shares of Vinaconex Stone.
On the unlisted public company market on July 29, the UPCoM-Index advanced by 3.58 percent to close at 79.77 points, a surprising upward move driven by gains in shares of APEC, Cho Lon and SME securities companies.
Trading value reached 2.8 billion VND (157,300 USD) on a volume of 215,400 shares, with a half the volume generated by SME Securities (SME)./.
Activity was off 41 percent from July 28’s session, with trades totalling 1.3 trillion VND (73 million USD) on July 29 on a volume of 34.4 million shares.
On the Hanoi Stock Exchange, the HNX-Index also slid 1.71 percent to end on July 29’s trading at 152.14. Volume fell 37 percent from the previous session to 20 million shares, worth a combined 893.4 billion VND (50.2 million USD).
FPT Securities Co analysts called the downward adjustments a “very normal market reaction” after the rally of the past five days, adding that gains in financial shares were helping prop up the market and would continue to be “a hope” for the market in the coming days.
Banking and financial shares continued to be the most active on both bourses on July 29, with Sacombank (STB) accounting for 18 percent of the total volume on the southern exchange with 6.2 million shares changing hands, and Kim Long Securities (KLS) generating orders for 3.4 million shares, representing 17 percent of the total volume on the northern market.
In HCM City on July 29, net buys by foreign investors remained significant at about 2 million shares, worth a total of 117.5 billion VND (6.6 million USD), although their overall volume stayed modest at 4.9 million shares.
In Hanoi , foreign investors traded 1.2 million shares, worth a total of 54.3 billion VND (3.1 million USD). They were most interested in Tien Phong Plastics (NTP), picking up 265,100 shares, while shedding 100,000 shares of Vinaconex Stone.
On the unlisted public company market on July 29, the UPCoM-Index advanced by 3.58 percent to close at 79.77 points, a surprising upward move driven by gains in shares of APEC, Cho Lon and SME securities companies.
Trading value reached 2.8 billion VND (157,300 USD) on a volume of 215,400 shares, with a half the volume generated by SME Securities (SME)./.
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