Shares open new week down on both exchanges
Shares plunged Monday morning on both national stock exchanges after rising for two sessions, erasing most of last week's gains, with 90 per cent of codes dropping in value.
In HCM City, the VN-Index lost over 3 per cent to finish today at 479.9 points. Trading volume rose slightly to 45.6 million shares worth VND932.2 billion (US$44.4 million).
Losers largely outnumbered gainers by 221-27, of which over half dropped to their floor prices.
Half of the 10 largest capitalised shares also declined by 5 per cent, the most they can decrease in a single session, including Phu My Fertiliser (DPM), Hoang Anh Gia Lai Company (HAG), Hoa Phat Group (HPG), Masan Group (MSN) and PetroVietnam Finance (PVF).
Among the 10 largest caps, only Vietinbank (CTG) made gains, rising 0.7 per cent to close at VND27,100 ($1.30).
Saigon Securities Inc (SSI) was again the most active stock with a whopping 6.8 million shares changing hands. SSI closed up 0.9 per cent at VND23,700 ($1.13).
In Ha Noi, the HNX-Index also lost 3.16 per cent to close at 91.85 points.
Heavy profit taking pushed market volume up by 64 per cent today to 48.3 million shares worth more than VND730.1 billion ($34.8 million).
Decliners also largely outnumbered advancers by 258-39.
Kim Long Securities (KLS) and VNDirect Securities Company (VND) were the most heavily-traded shares on the northern bourse, with over 6 million shares changing hands each. KLS lost 1 per cent to close at VND10,300 ($0.49) while VND rose 5.3 per cent to close at VND15,800 ($0.75).
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