Shares down on both exchanges ( 28/8)

[langmoda]

Shares plunged again on both national stock exchanges following mounting pessimism from investors.

On the HCM Stock Exchange, the VN-Index lost another 1.48 per cent, decreasing to 380.48 points with total turnover of VND361.34 billion (US$17.2 million), down 22 per cent from yesterday morning.

Decliners overwhelmed advancers by 165-43, of which 81 codes dropped to the floor prices.
Blue chips again led the market downturn as insurer Bao Viet Holdings (BVH), Eximbank (EIB), PetroVietnam Finance (PVF) and property developer Hoang Anh Gia Lai (HAG) all fell by the daily limit of 5 per cent.

The VN30, which tracks the top 30 shares, was also down 1.92 per cent to 447.54.
EIB was the most active code with over 1.5 million shares traded, closing at the floor price of VND16,100 ($0.77) a share.

On the Ha Noi Stock Exchange, the HNX-Index gave up 1.69 per cent to end this morning at 59.29 points with trading value reaching VND191.8 billion ($9.1 million), down 24 per cent from yesterday morning.

The HNX30 – representing the exchange's top shares – also dropped 0.94 per cent to 110.88 points, with VNDirect Securities (VND) the most active code with almost 3 million shares traded.

Finally, the VND rose 1.1 per cent to VND9,500 ($0.45) a share.
Trading will resume at 1pm.

View more random threads:

• Listings bustle on Hanoi Stock Exchange
• Trading volume increases on Hanoi Exchange
• Shares close up over last Friday (28/1/13)
• Rebounding blue chips lift stocks
• Stocks fall on pessimism (3/7)
• BHT: Results of General Meeting of Shareholders 2013
• HNX Notice: First trading day of CKV
• SCR: Official admission of additional listing of SCR
• Shares slump on low trading (22/4/13)
• Vietnam stocks plummet on govt steps to curb prices

[nhoit90]

Shares plunged again yesterday on both national stock exchanges following mounting pessimism from investors, driven by rumours on the market.

According to Vu Bang, chairman of the State Securities Commission, the stock market was negatively affected by inaccurate information, particularly the false rumour related to the arrest of chairman of Masan Group Nguyen Dang Quang.

"Completely inaccurate rumours have driven investors to sell off shares en masse," Bang said, adding the commission had never considered to suspend or shut down the market as this could negatively impact the market sentiment.

Market insiders also warn investors of the phenomenon of speculation or short sales and advised investors to keep calm to avoid falling prey to false rumours of profiteers.

The VN-Index on the HCM City Stock Exchange failed to rebound in the afternoon session, losing 0.11 per cent to 385.78 points while the trading value was down 17 per cent from Monday's level, totalling VND538.5 billion (US$25.6 million).

Some blue chips recovered in the afternoon. Military Bank (MBB), steelmaker Hoa Phat Group (HPG) and Vinamilk (VNM) increased from 1-2.6 per cent.

However, large-caps shares including insurer Bao Viet Holdings (BVH), property developer Hoang Anh Gia Lai (HAG), Eximbank (EIB) and PetroVietnam Finance (PVF) continued to close yesterday at floor prices.

The VN30, which tracks the top 30 shares, was off 0.19 per cent to 454.10.

Financial conglomerate Ocean Group (OGC) was the most active code with 1.9 million shares traded, closing off 4.6 per cent at VND10,400 ($0.50) a share.

On the Ha Noi Stock Exchange, the HNX-Index gave up another 0.96 per cent to end yesterday at 59.73 points on total turnover VND279.2 billion ($13.3 million), down 13 per cent from Monday.

Blue chips on the northern bourse performed better, with the HNX30 – representing the exchange's top 30 shares – rose 0.36 per cent to 112.34 points.

VNDirect Securities (VND) became the most active code with almost 4.8 million shares changing hands, rising 2.1 per cent to end yesterday at VND9,600 ($0.45) a share.

According to Nguyen Duy Hung, chairman of Saigon Securities Inc (SSI), after dropping for several sessions in a row, prices of many stocks have become more attractive. He predicted that with lower interest rates and more controlled inflation, the stock market would get better in the medium- and long-term.

Foreign investors suspended trading on the HCM City exchange but continued to be net buyers on the Ha Noi bourse, picking up shares worth VND8.6 billion ($410,000) worth of shares.