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Shares decline on both bourses
Shares tumbled on both national stock exchanges, despite high liquidity yesterday.
On the HCM City Exchange, the VN-Index closed down 0.53 per cent to 499.86 points, dropping from its 500-point-level recorded on Wednesday.
One hundred codes managed to increase while 100 others lost.
The total trading volume and value were high, at 106.540 million shares and VND1.29 trillion (US$61.42 million), respectively.
The VN30-Index, tracking the largest shares by capitalisation and liquidity, lost 0.5 per cent to finish at 559.12 points with decliners outnumbering advancers by 18-6.
Vinamilk (VNM) lost VND1,000 ($0.049) to stop at VND140,000 ($6.7) per share and PetroVietnam Drilling (PVD) closed VND2,000 ($0.098) lower at VND65,500 ($3.19) per share.
Other losses were pegged to big names like insurer Bao Viet Group (BVH), Southern Rubber (CSM), property developer Hoang Anh Gia Lai (HAG), Military Bank (MBB) and Ocean Group (OGC).
Six gained between VND100-400 per share.
According to FPT Securities, bluechip companies failed to support the market yesterday, dragging down the benchmark index.
However, many shares of small cap groups continued to attract cash flow, helping improve the market's overall liquidity.
Technology enterprise Tan Tao Group (ITA) lead the bourse in liquidity with 9.7 million shares changing hands yesterday.
On the Ha Noi Exchange, the HNX-Index shed 0.2 per cent to finish at 63.15 points on the trading of more than 61.98 million shares.
The trading value totalled 413.6 billion ($19.6 million) and trading volume and value were both higher than Wednesday's trading session.
The HNX30-Index, composed of the capital city's 30 largest listed companies, finished yesterday 0.62 per cent lower at 118.45 points.
Although market liquidity has improved recently, the market was still in short-term difficulty due to the failure of blue chips in supporting the benchmark indices, according to FPT Securities.
Foreign buyers contributed yesterday's net trading to a value of VND55.4 billion ($2.64 million).
Viet Nam Investment Securities forecast that the downward trend would continue today, however, the decreasing rate would not be significant.
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