Shares extend correction
Shares extend correction
National stocks continued to lose ground this Friday morning, while securities analysts kept on telling investors that the declines were a technical correction, as the market had increased for four months and there were no new changes in the economy.
On the HCM City Stock Exchange, the VN-Index retreated 1.4 per cent to close this morning's trading at 436.27 points. The VN30 also tumbled by 1.3 per cent to 506.96 points.
Losers largely overwhelmed gainers by 218-34.
The value of trades reached approximately VND806.1 billion (US$38.3 million) – increasing, however, 23.8 per cent over yesterday morning's level. Trading volume totalled around 54.1 million shares.
Of the 30 leading shares tracked by the VN30, only two advanced, including food processor Hung Vuong (HVG), which hit its ceiling price of VND39,900 per share, and Sacombank (STB), up 0.8 per cent.
On the Ha Noi Stock Exchange, the HNX-Index fell by 2.6 per cent to 74.19 points with losers outnumbering gainers by 226-34.
However, market value soared 64.5 per cent to VND426.4 billion ($20.3 million) worth of 44.1 million shares.
VNDirect Securities Co (VND) had its second session of the week being the most heavily traded code with 4.1 million shares changing hands, followed by PetroVietnam Construction Co (PVX) with 3.5 million.
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