Shares continued their losing streak on both bourses this morning. On the HCM City Stock Exchange, the VN-Index lost nearly 1 per cent, reaching 420.08 points. Decliners overwhelmed advancers by five times.
HA NOI – Shares continued their losing streak on both bourses this morning.
On the HCM City Stock Exchange, the VN-Index lost nearly 1 per cent, reaching 420.08 points. Decliners overwhelmed advancers by five times.
The value of trades, however, increased 35.3 per cent over yesterday morning's figure to VND498.1 billion (US$23.7 million). Trading volume rose to around 34 million shares.
The gains of four stocks – Phu My Fertiliser (DPM), Eximbank (EIB), confectionery firm Kinh Do (KDC) and PetroVietnam Drilling Services Co (PVD) – failed to lift the VN30. The index retreated 0.64 per cent to close this morning at 494.89 points.
According to Alan T Pham, chief economist of investment management firm VinaCapital, businesses had easier access to capital in the third quarter of this year.
"While monetary policies need more time to take effect, fiscal policies are being surely implemented, actively supporting the stock market," he said.
However, he said, the causes of recent market doldrums included disappointment about corporate operations in the second quarter.
Auditors had pointed out some troubled companies, which would probably not continue their business.
On the Ha Noi Stock Exchange, the HNX-Index fell 1.25 per cent to 70.90 points.
Nearly half of the listed stocks lost value. Meanwhile, market value and volume slightly increased to VND237.9 billion ($11.3 million) and 24.8 million shares.
The market is due to resume at 1pm. – VNS