Investors during a trading session at ACB Securities Company. (Source: VNA)
Hanoi (VNA) - Shares sank for a second day on October 21 on the two national stock exchanges, likely caused by declining liquidity that raised investor caution ahead of the expected release of October economic data next week.
The benchmark VN-Index, the measure of 312 stocks on the Ho Chi Minh Stock Exchange, was down 0.2 percent and closed at 684.8 points. It was down 0.4 percent on the previous day.
On the Hanoi Stock Exchange, the HNX-Index’s 379 stocks decreased 1 percent to 84.2 points. The index also lost 0.5 percent in the previous trade.
Overall market conditions were negative with 276 of the total 692 stocks declining while 154 advanced.
Large-cap stocks continued to perform negatively. Some 19 of the 30 largest stocks by market capitalisation slumped while only seven climbed.
A total of 173.4 million shares worth nearly 2.8 trillion VND traded in the two markets, up 2.3 percent in volume but down 3.4 percent in value compared to the previous day’s levels.
“Third-quarter earnings reports had limited impacts on stock prices of companies,” analysts at Artex Securities Co wrote in a report.
“If this continued to happen to large-cap stocks which are expected to report their earnings in next weeks, the market would likely lose rising momentum and could decline when the reporting season ended,” analysts said.-VNA
