Hanoi (VNA) – The HCM City Stock Exchange commenced a new week with another losing session, following three straight weeks of non-stop declines.
The VN-Index on May 26 fell another 7.54 points to close at 420.51, a loss of 1.76 percent.
Startlingly, since the beginning of this year, the index has now lost a total of 506.51 points, or 54.64 percent of its value.
Trading remained depressed in the May 26 session, with fewer than three million shares changing hands, for a value of about 105.3 billion VND (6.6 million USD).
For the month so far, trading volumes have reached a cumulative 67.8 million, half of April’s total of 136.7 million. The total value of shares traded, at 3.2 trillion VND (200 million USD), was also less than half of April’s figure of 6.7 trillion VND.
In the May 26 trading, fully 141 codes were losers. There were only two gainers on the day, while 11 remained unchanged.
Vincom Joint Stock Co (VIC) led the market in trading volume, with orders for more than 432,000 shares successfully matched, but VIC still managed to close at its floor price of 74,000 VND (4.60 USD) per share.
Foreign investor were still net buyers overall but at far lower volumes than in previous sessions, with only about 385,000 shares bought and 127,000 sold.
A new psychological barrier, the 400-point level, begins to loom, according to market analysts, but most investors were expecting the barrier to fall this week, with little in sight to halt the market decline.
Global economic news and stock markets remained down overall, while gold and oil prices were still hitting highs.
In Hanoi on May 26, the HASTC-Index also lost 2.47 points, or 1.93 percent, to close at 125.46. Trading volume fell 25 percent from May 23 figures reaching only 527,780 shares, while trading value declined 30 percent to 12.23 billion VND (764.375 USD).
The Hanoi market continued recent day’s patterns of massive sell orders at the beginning of the day, with buy orders unable to catch up throughout the trading session.-Enditem
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