Wall Street's overnight decline cast a catastrophic shadow on the Vietnamese stock market on August 12, with benchmark indices on both national stock exchanges declining sharply and over 90 percent of shares shedding value.
On the HCM Stock Exchange, the VN-Index fell 3.18 percent to close at 448.40, the market's lowest point since last December 17, while on the Hanoi Stock Exchange, the HNX-Index plunged by 5.1 percent to just 130.03 points.
A massive sell-off pushed up trading volume on both exchanges.
Volume rose 24 percent over the previous day's session on the HCM City exchange, reaching 49.2 million shares worth a combined 1.3 trillion VND (68.4 million USD). On the Hanoi exchange, volume was up 21 percent to nearly 37.5 million shares, while the combined value of trades hit 885 billion VND (46.6 million USD).
The southern bourse saw, shares fall straight from the opening bell with blue chip leading the fall. Decliners outnumbered advancers by 236-8, with over 180 shares hitting their floor prices.
Refrigeration Electrical Engineering Corp (REE) was the most-active share on the HCM City bourse on a volume of 2.3 million shares. REE closed down 3.55 percent to 16,300 VND (0.86 USD).
North Kinh Do Food Co (NKD) was among the few shares to buck the prevailing tide, closing up 1.26 percent to 40,000 VND (2.11 USD) per share as investors expected solid earnings from sales in the upcoming Mid-Autumn Festival.
In Hanoi , 286 codes closed down while only 20 shares managed to gain in value.
PetroVietnam Construction (PVX) was the most-active share nationwide on a volume of 6.4 million but plunged by 5.49 percent to 22,200 VND (1.17 USD) per share.
Foreign investors were net buyers on both bourses, picking up a net of 1.3 million shares worth a combined 60.6 billion VND (3.2 million USD)./.