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Shares continue to fall as gold and USD soar
Vietnam's stock market continued to decline this morning as the price of gold and the US dollar danced higher together to a rhythm that showed no sign of faltering.
The domestic price of gold set a record VND38.5 million (US$1,812) per tael after the precious metal soared above $1,400 an ounce on the world market.
A tael is equivalent to 1.2 troy ounces.
A single US dollar bought up to VND21,250 on the Street.
In HCM City, the VN-Index lost 1.69 per cent over Monday's value to close at 449.4.
Both market volume and value rose and almost 42 million shares worth VND1.11 trillion ($53.1 million) were exchanged - an increase of 28.7 per cent in volume and 39.3 per cent in value.
The number of declines were almost ten times higher than advances.
Most blue chips tumbled and of the ten largest capitalised shares, only software giant FPT Corporation (FPT) posted a modest increase of 0.7 per cent to close at VND73,000 ($3.48).
Insurer Bao Viet Holdings (BVH) declined 3.9 per cent, industrial conglomerate Hoa Phat Group (HPG) decreased 1.5 per cent, Vietinbank (CTG) fell 1 per cent, and Eximbank (EIB) declined 1.4 per cent.
Sacombank (STB) became the most active stock on the southern bourse with 1.94 million shares traded, but it closed down 1.9 per cent to VND15,500 ($0.74) a share.
In Ha Noi, the HNX-Index fell another 2.64 per cent to close today's session at 106.83.
Trading volume rose to more than 26.1 million shares worth VND493.6 billion ($21.3 million) - rises of about 16 per cent in both volume and value.
Losers outnumbered gainers 288-25.
PetroVietnam Construction (PVX) continued to be the most heavily-traded shares nation wide, with 2.89 million shares changing hands. PVX fell 3.3 per cent to close at VND20,800 ($0.99).
Today, property developer Sacomreal (SCR) listed 966.9 million shares for the first time on the northern bourse. SCR closed unchanged at an average of VND26,100 ($1.24) per share.
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