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Shares plunge in spite of positive data
Shares continued to slide this May 29 morning despite the release of some positive information.
Although interest rates were said to be cut, and analysts alleged that the domestic stock market could surge 65 per cent next year, the VN-Index on the HCM City Stock Exchange retreated 1.23 per cent to 430.13 points. The VN30 also shed 0.6 per cent, reaching 510.42 points.
The volume of trades fetched 31.6 million shares, worth a total value of VND454.3 billion (US$21.6 million), a 34.8 per cent decrease compared to yesterday morning's level.
Of the 30 leading stocks tracked by the VN30, only food provider Bourbon Tay Ninh (SBT) and Sacombank (STB) managed to advance by 2.7 and 0.4 per cent, respectively.
Gas giant PetroVietnam Gas Corp (GAS) lost 2.7 per cent, heading back to its initial price on the first trading day.
On the Ha Noi Stock Exchange, the HNX fell by 0.9 per cent to just 74.91 points.
Losers overwhelmed gainers by 191-31.
Only 18.56 million shares were traded, combining an overall value of VND194.9 billion ($9.2 million), halving over yesterday morning's value and volume.
Property developer Sacomreal (SCR) was the most heavily traded stock nationwide with around 2.2 million shares changing hands.
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