Hanoi (VNA) – The stock market continued in the doldrums on May 7 with the VN-Index losing 3.09 points, or 0.60 percent, to close at 515.26.
Trading volume was barely 6 million shares. At a total value of about 317.8 billion VND (19.9 million USD), figures that approximated May 6 levels.
Strong buys from overseas investors continued to keep the market afloat, said brokers from the Da Nang Securities Co.
Blue chip shares like Sacombank (STB) and FPT continued hitting their floor prices in the day’s session, with many traders seeing these shares as risky investments and shifting their trading to penny stocks like Vegetaxco Port (VGP), Saigon Maritime (SHC) and Full Power Co (FPC).
Phu My Fertilisers (DPM) led the market in trading volume, with 887,940 shares changing hands, followed by furniture maker Hoa Phat Group (HPG).
The brokers predicted that the domestic stock market was in for a long stretch of gloomy days as world stock markets have declined again in the face of spiking world oil prices.
In Hanoi , the HaSTC-Index also slid a full 2 percent on May 7 to close at 160.61. Trading turnover was 56.7 billion VND (3.5 million USD) on a volume of 1.3 million shares.
PetroVietnam Securities (PVS) was the most active share on the northern bourse, with 198,200 traded.-Enditem
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