VN-Index Tumbles down

Despite more than 2.2 million shares being traded by foreign investors yesterday, the local stock market continuously went down in this morning’s session.

By the close of the day, only 3.77 million shares changed hands, a record low of trading volume over the last 14 sessions. The board showed only seven stocks climb and 94 fall, pulling the VN-Index down from 972.56 to 956.13 points.

Out of the ten top market caps, only ITA, PVD and VSH were unchanged while the remainders fell, with VIP down by VND3,000, GMD by VND4,000, REE by VND3,000, FPT by VND5,000, PPC by VND500, STB by VND1,000 and VNM by VND2,000.

Today’s session also saw other top-volume stocks drop down strongly, including NKD by VND10,000, SJS by VND8,000 and DHG by VND20,000. Even exclusive stocks like BMC, TCT, LBM and ALT tumbled. Two more companies, NAV and SGC whose recent annual reports came out with winning numbers, also fell.

Small and medium companies like TAC, VIS and BBC, which have enjoyed an increase of trading volume for several weeks, were deep in red.

Investors proved that they didn’t have time for new stocks as the newly-listed GTA and TRC were today’s biggest losers.

The two-day drop might see the market languish dangerously at 950 points in early August before making a u-turn.

By staff writers - Translated by Hoang Uy

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