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Shares slump on draining liquidity
Shares continued their downward spiral this morning after making modest recovery yesterday, as investors became cautious over draining liquidity.
On the HCM Stock Exchange, the VN-Index lost 0.93 per cent to close at 546.03 points, while the VN30, which tracks the top 30 shares by market value and liquidity, dropped 0.63 per cent to end at 576.31 points.
The market condition was negative as the decliners were three times the number of gainers.
Liquidity kept falling, as just 48 million shares worth VND749.4 billion (US$35 million) were traded by the end of the morning.
FLC Group (FLC) again led the trading here with 6.2 million of its shares being exchanged, diving 2.68 per cent to end at VND10,900 per share.
On the Ha Noi Stock Exchange, the HNX-Index also edged down 0.58 per cent to finish at 81.80 points.
Only 38 shares gained value, while 98 codes lost and 229 remained flat.
The market volume was as low as 17 million shares, worth VND186 billion ($8.7 million).
KLF Joint Venture Global Investment Co (KLF) was the most active code here with 3.6 million of its shares being traded, rising 1.08 per cent to close at VND9,400 per share.
The afternoon session will start at 1pm.
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