Shares tumbled again yesterday on both national stock exchanges after a brief rising session on Wednesday, with the two indices losing value.
"Investor sentiment is too fragile and Wednesday's rally didn't help strengthen confidence," a stock analyst with FPT Secuties wrote on the company's website.
Without supporting information, many took the chance to cut holdings to stop any further losses, he said.
On the HCM Stock Exchange, the benchmark VN-Index closed off 0.04 per cent at 350.51 points, as decliners narrowly outnumbered advancers by 132-102.
The market value decreased 34 per cent to just VND557.2 billion (US$26.5 million) while the volume of trades dropped 16 per cent to 48.3 million shares.
Blue chips performed mixed results, with property developer Hoang Anh Gia Lai (HAG) continuing to spike, buoyed by the news that its chairman would buy 5 million shares of his own company. Eximbank (EIB), software producer FPT Corp (FPT) and food processor Masan Group (MSN) also rose 0.6-1.6 per cent.
Meanwhile, many other large caps lost between 0.6-2.4 per cent of value.
Of the 10 leading shares by capitalisation, only Sacombank (STB), the most active code with over 2 million shares changing hands, bottomed out while insurer Bao Viet Holdings (BVH) declined 2.1 per cent.
On the Ha Noi Stock Exchange, the HNX-Index yesterday declined 0.93 per cent to finish at 57.61 points, with the value of trades dropping slightly to VND238.7 billion ($11.4 million) on a volume of 27.5 million shares.
Losers outnumbered gainers by 134-94.
VNDirect Securities Co (VND) dropped to the floor for the third consecutive session at VND6,500, but remained the most heavily-traded stock nation-wide with 3.3 million shares exchanged.
Foreign investors became net buyers on both exchanges yesterday, picking up a combined VND7.4 billion ($352,000) worth of shares.
Source: Vietnam News Agency
