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VN-Index falls through 300-point psychological barrier
The VN-Index continued its downward spiral to finally break through the psychological barrier of 300 points during the Dec. 5 trading session at the Ho Chi Minh Stock Exchange.
The last session of December’s first week of trading closed at 299.68, losing 8.92 points or 2.89 percent.
Total trading volume stood at 10.24 million shares, valued at 240.35 billion VND, up 2.12 percent in volume but down 5.5 percent in value compared with the previous session.
The market saw 132 shares fall in value, 19 gain in price and 21 remained static.
These figures constitute a loss of 67 percent when compared to the 921 points gained early in 2008. Before, the VN-Index stood above the threshold of 500 points and rose to almost 1,200 points at its peak.
The Hanoi Securities Trading Centre’s HASTC-Index also fell by 2.89 percent, dropping to 103.54 points.
Total trading volume for the day stood at 6.43 million shares, valued at 151.7 billion VND.
According to a Finance Ministry report, the VN-Index fell by 70 percent in November, compared with early 2007. The first ten months of this year saw 27 initial public offerings (IPO), including 24 stock auctions with a total combined value of over 6.5 trillion VND.
An additional 76 companies have been listed on the market this year, bringing the total number of shares and fund certificates listed on the exchange to almost 330.
The market’s capitalised value represents 19 percent of the country’s GDP.
VNA
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