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Shares plunge on both bourses
The VN-Index plunged again this morning, reversing yesterday's gains, closing off 1.29 per cent at 385.86 points, as investors hesitated to disburse money in the context of a low trading volume and value on the HCM Stock Exchange.
Market volume increased slightly to 33.9 million shares but the value of today's trades dropped nearly 22 per cent from yesterday, totalling just VND556.2 billion (US$26.5 million).
Decliners outnumbered advancers by 144-78, led by slumps of several blue chips. Five of the 10 largest shares led by capitalisation fell, of which insurer Bao Viet Holdings (BVH) and PetroVietnam Finance (PVF) hit the floor price of a 5-per-cent decline.
Only Sacombank (STB) and property developer Hoang Anh Gia Lai Co (HAG) rose over 1 per cent, while others posted tiny gains of 0.4-0.7 per cent or closed unchanged. STB was also the most active code in HCM City with nearly 1.85 million shares changing hands.
On the Ha Noi Stock Exchange, the HNX-Index also slid nearly 2 per cent to finish today at 62.88 points as losers tripled gainers.
The trading value fell 23.5 per cent to VND247.5 billion ($11.8 million) while the volume of trades also slumped 27 per cent to just 24.3 million shares.
Securities shares of Kim Long (KLS) and VNDirect (VND) saw the highest trading volume of over 2 million shares for each code, but both shares declined 1 per cent to around VND10,000 ($0.48).
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