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Shares continue to fall on profit-taking
Stocks fell for the second successive day in both HCM City and Ha Noi as investors continued to convert their holdings to cash on Dec 08. In HCM City, the VN-Index declined 1.72 per cent to finish at 452.83.
Value of Dec. 08 's trades decreased VND1.6 trillion (US$76.5 million) or 20 per cent against on Dec. 07 as almost 72.5 million shares were sold.
Declines were almost twelve times higher than advances.
Over 65 per cent of the declines hit their floor prices and many, including the Southern Rubber Industry (CSM), Da Nang Rubber (DRC), Vien Dong Pharmaceutical (DVD), Long An Food Processing Export (LAF) and Song Da Urban & Industrial Zone Investment and Development (SJS), went unsold.
All had risen in previous sessions.
Of the 10 most capitalised shares, only Eximbank (EIB) and property developer Vincom Co (VIC) gained.
Saigon Securities Inc (SSI), with a volume of 5.36 million shares exchanged, was the most active nation wide.
It also dropped to its floor price - VND26,900 ($1.28).
In Ha Noi, the HNX-Index declined almost 3 per cent to close at 110.78.
Market volume almost halved to just 44.8 million shares worth VND921.7 billion ($43.9 million).
Declines outnumbered advances 276-32 and 173 of the 276 shares to post losses fell to their floor price.
Kim Long Securities Company (KLS) continued to be the most heavily-traded share on the northern bourse with more than 4.67 million changing hands.
It dropped to its floor price to close at VND14,900 ($0.76).
vietnamnews
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