on both national exchanges accelerated their prolonged decline.
On the HCM Stock Exchange, the VN-Index declined by 2.42 percent from
August 24's session to close at 423.89 points – its lowest level since
May 2009. The Index has shed a cumulative 30 points, or 7 percent of its
value, since the market opened this week.
However,
as the Index headed for the landmark of 400 points, bottom-catching
investors accelerated buys, lifting market volume on the southern bourse
on Aug. 25 to 50.5 million shares worth a combined 1.23 trillion VND
(63.7 million USD), an increase of 8 percent in volume and 7 percent in
value. Decliners outnumbered advancers by 222-20.
Pressure to sell shares pledged as collateral from banks and securities
companies depressed many blue chips. Saigon Securities Inc (SSI), Bao
Viet Holdings (BVH), Song Da Urban and Industrial Zone Investment (SJS),
Hoa Sen Group (HSG) and Tu Liem Urban Development (NTL) were traded at
their floor prices.
A few shares went against the
market trend to gain in value, largely due to buys by foreign investors,
including Phu My Fertilisers (DPM) and PetroVietnam Drilling (PVD).
Foreign investors on the HCM Stock Exchange on Aug. 25
tripled their net buys overall to 3.45 million shares, worth 79 billion
VND (4.1 million USD).
PetroVietnam Finance (PVF),
meanwhile, surprised the market, managing to rise to its ceiling price
by the end of the session after being traded at its floor price
throughout much of the morning.
On the Hanoi Stock Exchange, the HNX-Index also plummeted by 4.49 percent to a 16-month low of 118.81 points.
Market value declined slightly to 753.6 billion VND (39 million USD)
on a volume of 36 million shares. Of 286 decliners, 199 closed at their
floor prices.
PetroVietnam Construction (PVX)
continued as the most-active share nationwide on a volume of 6.8
million, but slid by 5.56 percent to a close of 20,300 VND (1.05 USD)
per share.
Foreign sectors continued as net sellers
on the Hanoi bourse, responsible for 4.6 billion VND (238,400 USD)
worth of shares./.
