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VN-Index down far below 700 points
Ho Chi Minh City ’s stock exchange continued falling while that of Ha Noi experienced a slight increase on the February 22 trading session.
The VN-Index of the Ho Chi Minh City Stock Exchange decreased by 23.35 points to 687.10 points, with 15.8 million shares worth 1 trillion VND being traded.
However, investors stopped bartering their stocks away as they did in the previous day and the market showed signs of recovery, with a small number of shares registering price hikes, such as Ben Tre Aquaproduct Import-Export (ABT), Domesco Medical Import-Export (DMC), Hai Phong Paper (HAP) and Tuong An Vegetable (TAC).
The Ha Noi Securities Trading Session saw the recovery of some other stocks with high liquidity.
At the end of the trading session, the HaSTC-Index rose 1.13 points to 239.02 points. Around 7.1 million shares, valued at 463 billion VND, changed hands.
However, Pham Thanh Trung, deputy head of the Sacombank Securities Company’s Brokerage Department, said there have been signs of cash withdrawal from the securities market and forecast that the securities market will keep falling in the medium term.
Sharing Trung’s view, an executive of another securities company in Ha Noi, said investors, not only individuals but also organisations, are losing their confidence in the stock market and switching to gold and real estate or putting their money into banks.
VNA
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