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Shares reverse previous gains
The VN-Index lost ground on Dec. 6, closing down a quarter of a percent from Dec. 5's close to 390.20 points, with advancers slightly outnumbering decliners.
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| Source: VietstockFinance |
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The value of trades on the HCM Stock Exchange edged up by 2.3 percent, however, reaching 505.94 billion VND (23.75 million USD) on a volume of 37.9 million shares.
The 10 leading shares by capitalisation all lost value, with insurer Bao Viet Holdings (BVH) dropping to 61,000 VND (2.90 USD) per share, a decline of 3.2 percent. Only Sacombank (STB) and resort developer VinpearlLand (VPL) added value.
Investment group Tan Tao (ITA) became the most-active share in HCM City , with nearly 2.5 million changing hands.
On the Hanoi Stock Exchange, the HNX-Index also slid by 1.1 percent to close at 62.78 points. The value of trades declined from the previous session, reaching just 340.7 billion VND (16 million USD) as volume fell 12.8 percent to 37.5 million shares. VNDirect Securities Co (VND) was the most-active share nationwide with around 4.8 million traded, but it dropped by 0.9 percent to just 10,700 VND per share.
Vietnam 's two leading stock indices were among the most dramatically depressed in the Asia-Pacific region, Kim Eng Securities Co analysts told a meeting in HCM City on Dec. 6. Share prices were at their cheapest level since the market was formed, they said.
"The price-to-earnings ratio on the Vietnamese market has plunged to 10, which is lower than almost all other markets," said the company's head of analysis and consultancy, Phan Dung Khanh./.
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