Shares fall on both bourses
Shares fall on both bourses
Shares tumbled in HCM City for the fifth successive session and also declined in Ha Noi.
On the HCM City Stock Exchange, the VN-Index retreated nearly 1.2 per cent to 509.03 points.
Trading value still stood at around VND1 trillion (US$47.6 million) as 60.67 million shares changed hands.
The VN30 tracking the top 30 shares by market capitalisation and liquidity lost 1.5 per cent to 562.97 as only two stocks advanced. Both were rubber companies - Casumina (CSM) and Da Nang Rubber (DRC).
The largest falls were in shares of property developer Vingroup (VIC), food processor Bourbon Tay Ninh (SBT), PetroVietnam Drilling Services (PVD), steelmaker Hoa Sen Group (HSG), insurer Bao Viet (BVH) and Phu My Fertiliser (DPM). Each drop was calculated at 3-4.8 per cent.
On the Ha Noi Stock Exchange, the HNX-Index was flat, edging down 0.02 per cent to 65.63 points.
Market value and volume totalled VND300.5 billion ($14.3 million) and 36.5 million shares respectively.
The HNX30, which represents the northern bourse's top 30 stocks, slid 0.33 per cent to reach 126.21 points.
While foreign investors were net buyers in Ha Noi by a margin of VND11.45 billion ($545,200), they were net sellers in HCM City with a net sale of VND150 billion ($7.1 million).
Over the last three weeks, slumps in the global stock market - especially in emerging markets in the ASEAN region such as Thailand, Indonesia and the Philippines - have impacted negatively on investor sentiment, according to Bao Viet Securities Co analyst Tran Hai Yen.
"This can be seen as the reason behind the selling activities of foreign investors, including exchange-traded funds," she said.
However, in the coming sessions, the release of corporate financial statements will be the main factor affecting investor psychology, Yen added.
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