The VN-Index plunged another 4.08 percent on July 1 to close at 430, as most stocks bottomed out on the Ho Chi Minh City Stock Exchange.

Only four codes managed to advance, while 157 lost value – and most of those hit the floor of their regulated trading bands.

Vietcombank (VCB), after its vigorous debut on June 30, July 1 edged up less than 1 percent in value to 60,500 VND per share.

The other major newcomer to the bourse, Bao Viet Holdings (BVH), fell to the floor after several days of performing well.

Trading volume on the southern market improved, however, increasing 11 percent over June 30’s session to 41.7 million shares on a turnover of 1.8 trillion VND ( 101.1 million USD). Market leaders Sacombank (STB) and Vietcombank (VCB) generated orders for a combined 12.9 million shares, or 31 percent of total market volume.

On the Hanoi Stock Exchange, the HNX-Index also plummeted by 4.39 percent to close at 142.5 points on a trading volume of 20.7 million shares and a total value of 680.8 billion VND (38.2 million USD).

Asia Commercial Bank (ACB) continued to lead the northern market with 5.5 million shares changing hands.

“The market does not yet have any new motivation for increasing in the short term,” said Bao Viet Securities Co in its daily report. “Perhaps demand will improve when share prices fall to more attractive levels.”

The unlisted public company market (UPCoM) also continued its downward spiral on July 1, as the UPCoM-Index slid another 6.69 percent to end at 72.47 points. No stocks managed gains on the fledging market.

But trading volume improved on June 30’s dismal session, rising to about 364,500 shares, for a turnover of 4.9 billion VND (275.300 USD).