Vietnam’s stocks plunge at steeper rates
The national stocks continued to plummet on December 17 with stiffer rates compared with previous day’s fall.
The national stocks continued to plummet on December 17 with stiffer rates compared with previous day’s fall.
On the Ho Chi Minh Stock Exchange, the VN-Index plunged 3.16 percent to 518.22 points, with the majority of listed shares going down rapidly.
Trading value surged to 3 trillion VND (140.8 million USD), increasing by 20 percent over December 16 session, on a volume of nearly 171.4 million shares.
Of the 30 largest blue chips tracked by the VN30 Index, none managed to post gains. Only Da Nang Rubber (DRC) closed with unchanged values.
Meanwhile, logistics firm Gemadept (GMD), HCM City Securities (HCM) and PetroVietnam Transportation (PVT) hit the bottom. Many others also slid strongly, such as Vinamilk (VNM), real estate giant Vingroup (VIC), PetroVietnam Drilling Services (PVD) and metal producer Hoa Sen (HSG). Southern Rubber Industry (CSM) and software developer FPT (FPT) also saw substantial declines.
The Index closed the day at 3.73 percent lower, reaching 569.71 points.
The red colour also spread across the Hanoi Stock Exchange. Its benchmark HNX-Index incurred a 2.45 percent loss to reach 80.61 points.
Selling pressure drove the total transaction value up by 9.4 percent to reach 892.3 billion VND.
Blue chips in the northern market sent the HNX30 Index down 2.85 percent to fall at 157.09 points, while the group of construction stocks retreated the most with 3.46 percent.
Foreign investors continued to be net sellers by a margin of 91.8 billion VND (4.3 million USD) on both bourses.
The hefty falls were viewed as a continuing domino effect from the recent market turmoil, including the effects of the changes in the world oil prices, which weighed down oil and gas stocks. Circular 36, which prohibits banks from offering securities loans, affected the stock market as well.
However, December 17 session also provided investors the opportunity to buy, which was reflected by the purchase power demonstrated during the At-the-closing (ATC) session.
In principle, analysts from VietDragon Securities claim that prices in the long term were determined by the intrinsic value of enterprises.-VNA
On the Ho Chi Minh Stock Exchange, the VN-Index plunged 3.16 percent to 518.22 points, with the majority of listed shares going down rapidly.
Trading value surged to 3 trillion VND (140.8 million USD), increasing by 20 percent over December 16 session, on a volume of nearly 171.4 million shares.
Of the 30 largest blue chips tracked by the VN30 Index, none managed to post gains. Only Da Nang Rubber (DRC) closed with unchanged values.
Meanwhile, logistics firm Gemadept (GMD), HCM City Securities (HCM) and PetroVietnam Transportation (PVT) hit the bottom. Many others also slid strongly, such as Vinamilk (VNM), real estate giant Vingroup (VIC), PetroVietnam Drilling Services (PVD) and metal producer Hoa Sen (HSG). Southern Rubber Industry (CSM) and software developer FPT (FPT) also saw substantial declines.
The Index closed the day at 3.73 percent lower, reaching 569.71 points.
The red colour also spread across the Hanoi Stock Exchange. Its benchmark HNX-Index incurred a 2.45 percent loss to reach 80.61 points.
Selling pressure drove the total transaction value up by 9.4 percent to reach 892.3 billion VND.
Blue chips in the northern market sent the HNX30 Index down 2.85 percent to fall at 157.09 points, while the group of construction stocks retreated the most with 3.46 percent.
Foreign investors continued to be net sellers by a margin of 91.8 billion VND (4.3 million USD) on both bourses.
The hefty falls were viewed as a continuing domino effect from the recent market turmoil, including the effects of the changes in the world oil prices, which weighed down oil and gas stocks. Circular 36, which prohibits banks from offering securities loans, affected the stock market as well.
However, December 17 session also provided investors the opportunity to buy, which was reflected by the purchase power demonstrated during the At-the-closing (ATC) session.
In principle, analysts from VietDragon Securities claim that prices in the long term were determined by the intrinsic value of enterprises.-VNA