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Shares plunge on both stock exchanges on improved liquidity
The VN-Index retreated by 0.7 per cent this morning after a strong rebound yesterday, closing today's trading at 439.63 points.
On the HCM City Stock Exchange, market value rose by 11 per cent to VND647 billion (US$31.4 million), but volume of the day's trading decreased 16 per cent to just 24.9 million shares.
Losers outnumbered gainers by 126-80.
Blue chips such as Vietinbank (CTG), property developer Hoang Anh Gia Lai (HAG), steel producer Hoa Phat Group (HPG) and software giant FPT (FPT) all rose. But real estate insurer Vincom (VIC) lost 4.5 per cent, Bao VIet Holdings (BVH) dropped 1.2 per cent and Phu My Fertiliser (DPM) slumped 0.3 per cent, dragging the VN-Index down.
Sai Gon Securities Inc (SSI), with 1.55 million shares changing hands, was the most actively traded stock on the southern bourse. It closed unchanged at VND19,000 ($0.92).
On the Ha Noi Stock Exchange, the HNX-Index lost another 0.83 per cent to close at 76.41 points.
The value of the day's trading rose 12 per cent to VND468.6 billion ($22.7 million) on a volume of 38.2 million shares.
Decliners narrowly outnumbered advancers by 131-122.
VNDirect Securities (VND), which climbed 3.5 per cent yesterday to 11,900 ($0.58), was the most heavily traded stock nationwide with almost 4 million shares changing hands.
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