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Shares decline on both exchanges
Both of Viet Nam's stock indices declined on Dec 16 after seventy-eight per cent of shares tumbled on the two exchanges. In HCM City, the VN-Index backed off 2.69 per cent to close at 480.21.
Market volume fell 15.5 per cent over yesterday to around 80.8 million shares worth VND1.9 trillion (US$95 million).
Declines outnumbered advances 208-28.
Banks failed to support the market with Eximbank (EIB) and Sacombank (STB) - two of the ten most capitalised shares - hitting their floor prices.
Of the ten largest shares, Phu My Fertiliser and Vietinbank (CTG) rose, with the latter hitting its ceiling price.
Tan Tao Investment Industry Corporation (ITA) - with 5.54 million shares sold - was the most active share. It closed unchanged at VND16,300 ($0.82).
In Ha Noi, the HNX-Index retreated 4.29 per cent to finish at 115.43.
Market volume declined 27 per cent from Dec. 15 to 57.7 million shares worth VND1.1 trillion ($55 million).
Losses outnumbered gains 288-43.
Bank shares also slumped on the Ha Noi exchange after consecutive gaining sessions. Asia Commercial Bank (ACB), Ha Noi Housing Bank (HBB) and Sai Gon-Ha Noi bank (SHB) dropped to the floor.
Saigon Maritime Bank (SHC) with a rise of 6.2 per cent and Nam Viet Bank (NVB) increasing 3.9 per cent were among the few shares to post gains.
Kim Long Securities (KLS) became the most active share nationwide with 7.1 million exchanged but fell to the floor at VND16,100 ($0.81) at the close.
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