Shares fall at slower pace
Shares fall at slower pace
Shares continued to fall this morning, but at a slower pace as the negative impact of China's sharp devaluation of its currency weakened.
Bloomberg said China's central bank raised the reference rate of the yuan by 0.05 per cent this morning, lifting the fix from 6.4010 per US dollar to 6.3975, ending a three-day decline.
On the HCM Stock Exchange, the VN-Index extended its losses by another 0.62 per cent to end at 560.56 points. This is the fourth straight day of fall of this index.
More than 40 per cent of the total 308 stocks lost value, while only 70 shares climbed, with 79 remaining unchanged.
Large-cap shares were the main drag, with the VN30, which tracks the top 30 shares by market value and liquidity, losing 0.61 per cent to stand at 619.02 points.
Saigon Securities Inc (SSI) lost the maximum, with a steep fall of 7.1 per cent after trading ex-dividend, or the date on which buyers of the stock will no longer receive a previously declared dividend. The company will pay the share dividend at the rate of 10 per cent.
SSI was also the most active stock, with 3.3 million of its shares being traded at VND24,900 (US$1.14) each.
The overall liquidity was modest at nearly 48 million shares, worth VND963 billion ($44.2 million).
On the Ha Noi Stock Exchange, the HNX-Index dropped 0.79 per cent to end at 80.79 points.
The losers outnumbered the gainers by 83 to 45, while 238 ended unchanged.
The market volume was low at 21 million shares, while the trading value reached VND221.5 billion ($10.2 million).
The afternoon session will start at 1pm.
