New matching order system fails to boost shares
New matching order system fails to boost shares
The HCM City Stock Exchange July 2 began applying a new matching order-market pricing system that allows investors to buy or sell securities at the best price currently available.
"The purpose of market pricing is to provide a tool for investors to place orders, creating flexibility during continuous order matching," Le Hai Tra, the exchange's deputy general director
With fast order matching and high success probability, market pricing will be particularly effective when markets rapidly fluctuate, he said.
However, the move failed to lift shares this morning. On the southern exchange, the VN-Index lost 0.67 per cent to close at 419.53 points.
Losers overwhelmed gainers by 131-58.
The value of trades dropped 20.2 per cent compared to last Friday's session to just VND324.1 billion (US$15.4 million), as trading volume reached just 18.15 million shares.
The VN30, tracking the city's best stocks, retreated 0.8 per cent to 493.61 points.
Among the 30 leading shares, only four managed to grow, including software firm FPT (FPT), financial conglomerate Ocean Group (OGC), Refrigeration Electrial Engineering Corp (REE) and Vinh Son-Song Hinh Hydropower Co (VSH).
On the Ha Noi Stock Exchange, the HNX-Index closed 0.68 per cent lower at 70.59 points.
Trading was sluggish, with just 9.9 million shares worth VND91.8 billion ($4.3 million) changing hands.
The market is due to resume at 1pm
vietnamnews
