Shares on both bourses on August 23 suffered heavy losses for the third day this week.

On the HCM Stock Exchange, the VN-Index moved down 4.24 percent to 392.82 points. Nearly 90 percent of the city's listed stocks lost value.

The value of trades reached only 68 percent of the previous day's level, totalling 679.5 billion VND (32.3 million USD) on a volume of 38.8 million shares.

The VN30, representing the southern bourse's top shares, also tumbled 4.4 percent. The index reached 464.83 points, as all of the 30 shares failed to make gains, 28 of which closed at floor prices.

On the Hanoi Stock Exchange, the HNX-Index fell 5.3 percent, standing at just 61.23 percent. Blue chips sent the HNX30 down 6.3 percent to 114.04 points.

Around 34.9 million shares worth an overall value of 322.1 billion VND (15.3 million USD) changed hands.-VNA