|Stocks begin to revert to their real value, with the result that smaller investors are retreating from the bourse for fear of taking further hits. (Photo:TK)|
After making a surprising turnaround yesterday, the VN-Index went down again today to close at just below 1,000 points.
By the close of trading this morning, the index had dropped 3.03 points to end at 998.09. Most of the listed stocks declined and only 16 went up, mainly blue chips like BMP, FPT, ITA, PPC, REE and SAM.
More than 7.85 million shares changed hands for VND828 billion at the Ho Chi Minh City Securities Trading Centre.
Analysts say the market is correcting itself and stocks are beginning to revert to their real value, with the result that smaller investors are retreating from the bourse for fear of taking further hits.
As more evidence of the markets’ fall from favor, stockbrokers report that a substantial number of accounts have been emptied after their owners lost 20-30% of their money from over-eager investing.
Today’s losers and winners