Sharemarkets plummet as three-day slump continues
Sharemarkets plummet as three-day slump continues
Shares tumbled for the third day in a row during yesterday's session.
On the HCM City Stock Exchange, the VN-Index shed 1.3 per cent to 496.12 points.
Among the 30 leading shares in terms of capitalisation and liquidity, only property giant Vingroup (VIC) added 0.8 per cent. Six other stocks closed unchanged, while the rest of the shares closed trading in the red.
Blue chips were sold heavily, especially Vinamilk (VNM), Vietcombank (VCB), steelmaker Hoa Phat (HPG) and software company FPT (FPT).
The VN30, tracking these shares, slipped 1.15 per cent to 549.54 points.
Speculative stocks also fell deeply, such as PetroVietnam Transportation Corporation (PVT), Viet-Italy Steel (VIS) and property developers An Duong Thao Dien (HAR) and Kinh Bac City (KBC).
Trading value and volume slightly declined compared to Wednesday's session, totalling VND950.9 billion (US$44.8 million) and 53 million shares.
According to Maritime Bank Securities Company analyst Trinh Thi Hong, the level of 495-500 points was still a firm support for the VN-Index.
"The possibility that the market breaks this level is very low," she said. In the medium term, the market remained positive, she added.
Vietcombank Securities Co's Tran Minh Hoang also thought the correction period would end soon.
On the Ha Noi Stock Exchange, the HNX-Index finished at 61.85 points, a 0.85 per cent decrease.
As only 19.2 million shares changed hands, trading value reached VND165.87 billion ($7.8 million).
The HNX30, composed of the northern bourse's top 30 shares, also dropped 1.6 per cent to 114.93 points.
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