Stock Market Still Languishing in Tet Holiday’s Anticipation

The stock market had a rough start on its second day of the New Year, witnessing a sharp drop in total trading volume at the Ho Chi Minh Stock Exchange (HOSE) and the Ha Noi Securities Trading Company (HASTC).

At the HOSE, only 4.7 million shares worth VND444.91 billion (US$27.8 million) were traded, the lowest figure since September, especially when the number of listed shares increased by 30 percent over the last four months of last year.

Trading volume at the northern bourse made a record drop with only 1.86 million shares worth VND192.91 billion (about US$12 million) changing hands.

The VN-Index dropped 5.95 points to close at 921.07. The HASTC-Index cast off 1.21 points to close yesterday’s session at 322.34. The CBV-Index of the Bien Viet Securities Joint Stock Company also fell 2.43 points to close at 125.76.

Yesterday’s session welcomed a newcomer, PetroVietnam Investment Consultancy & Engineering (PVE), which raised the number of shares listed at the HASTC to 113. PVE issued 3.45 million shares at the average price of VND140,200. The total number of shares listed at the HOSE and HASTC has reached 254.

The VIR-Index, a new share index initiated by the Securities Investment newspaper, officially made its debut today. The index indicates the ups and downs of the 50 biggest listed companies, starting at 1,000 points.  

By Staff Writers – Translated by Khanh Hong

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