Trading orders are made at Hanoi Stock Exchange (Source: VNA) The benchmark VN Index on the HCM Stock Exchange went down slightly to close at773.43 points, little changed from August 9’s closing level.
The HNX Index on the Hanoi Stock Exchange inched down 0.10 percent to end at100.97 points.
The two indices have lost total 2.5 percent and 1.4 percent after the lastthree sessions.
More than 257.5 million shares were traded on both local exchanges, worth 3.87trillion VND (171.9 million USD).
The trading figures were down nearly 40 per cent in both volume and valuecompared to August 9’s numbers.
The stock market performed positively on August 10 and it could recover incoming sessions as investor sentiment improved after being rocked a day before,according to Bao Viet Securities Company (BVSC).
Vietnam’s stock market on August 9 tumbled, posting the worst fall in 20months, after tension between the US and the Democratic People’s Republic of Koreaescalated and false news about the arrest of a former highly-ranking bankexecutive.
Investor confidence was dampened, which triggered a large-scale sell-off on thestock market, made investors turn to less risky assets such as gold, broughtall 20 sectors of the stock market down and resulted in a loss of 2 billion USDin total market capitalisation.
Deputy Prime Minister Vuong Dinh Hue said on August 10 that investors shouldcount on the Government and the finance ministry instead of believing rumours,which could damage the stock market on a large scale.
He said that the Government, the Ministry of Finance and the State SecuritiesCommission committed to run the stock market in a public, transparent manner toprotect the benefits and rights of investors and listed companies.
The sharp decline on August 9 offered investors a chance to purchase stocksthat were hit hard, according to Saigon-Hanoi Securities (SHS).
Strong investors’ bottom-picking helped the benchmark VN Index recoup a part ofits intraday loss on August 10 when it fell back to 770-point level, SHS saidin its note.
Market trading liquidity declined sharply from August 9 and it proved thatselling pressure was not high and investor confidence really turned positive,it said.
Investors’ purchases for stocks that were hit hard on August 9 lifted more thanhalf of the 20 sectors on the market, including insurance, energy, food andbeverages, construction and plastic production.
Meanwhile, shares of banks, securities firms and property developers remainednegative.
On such conditions, SHS forecast that the VN Index on August 11 would fluctuateand move sideways in the range of 777 and 784 points.-VNA
VNA
