Stock Market Declines

While the world stock market has regained stability, the VN-Index fell by 24.42 points to close at 521.07.

Total trading volume for today’s session was 7.8 million shares worth VND361.7 billion (US$22.6 million).

Big caps Sacombank (STB) and Phu My Fertilizer and Chemicals (DPM), which normally enjoy numerous buy orders even in the stock market’s most difficult time, lost strength today.

Phu My experienced volume of 1.43 million shares while Sacombank’s trading volume was only 1.06 million, 60 percent less than the previous session.

There were 3 million sell orders for Sacombank today, but only 68,110 shares were traded.

The price of Saigon Securities (SSI) was unchanged on sluggish volume. The company had an average of 3 million sell orders each session since last week.

Even previously stable stocks like Tan Tao Industrial Park (ITA), Kinh Do Food (KDC), Vinamilk (VNM) and Tuong An Vegetable Oil (TAC) today dropped to nearly the market limit.

According to many observers, the VN-Index may drop below 500 points and this will encourage investors will buy in while waiting for a recovery.

Ha Noi’s HASTC-Index shed 13.36 points to close at 178.56. Total trading volume was 5.1 million shares worth a total of VND245.1 billion (US$15.31 million). 

Source SGGP, VN Express – Compiled by Khanh Hong

Other news