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On the HCM City Stock Exchange, the VN-Index closed down 0.48 per cent to 452.94, despite rising throughout most of yesterday's session. Over 33 million shares were exchanged, worth VND896.1 billion ($46 million) – a decline of 15 per cent in volume and 10 per cent in value.
Decliners outnumbered advancers by 173-42.
Ocean Group continued as the most-active share on the southern bourse on a volume of just around a million shares, closing unchanged at VND32,200 ($1.65).
Of the 10 leading shares by capitalisation, insurer Bao Viet Holdings (BVH), Eximbank (EIB) and real estate developer Vincom (VIC) posted gains, while software giant FPT (FPT), Sacombank (STB), and developers Hoang Anh Gia Lai (HAG) and Masan Group (MSN) declined.
On the Ha Noi Stock Exchange, the HNX-Index fell by an even more substantial 2.12 per cent to close the day at just 127.41 points. Market value declined by 14 per cent to VND842.7 billion (US$43.2 million) on a volume of 33.54 million shares, while losers outnumbered gainers by an overwhelming 264-38.
PetroVietnam Construction (PVX) resumed its role as the most-active share nationwide with 2.57 million shares traded, but the shares closed down 2.9 per cent to VND23,300 ($1.95).
VNDirect Securities Co analyst Pham Vu Dong yesterday told financial information website cafef.vn that, excluding growth, all other economic indicators were unfavourable. He noted high inflation in September and a trade deficit that could reach $13.5 billion by year's end, along with sluggish credit growth.
"The domestic economy is unlikely to undergo a sudden turnaround in the remaining months of the year," Dong said.
Gold prices continued to lure investors away from stocks, as well, with domestic gold prices hitting another record high yesterday at over VND31 million ($1,590) per tael. (A tael is equal to 1.2 troy ounces).
ACB Securities Co analysts also noted that Circular No 19, which supplements Circular No 13, retained the risk coefficient ratio for securities at 250 per cent, a level unlikely to encourage banks to loan further funds for securities investment.
Foreign investors continued as net buyers on both exchanges yesterday, picking up VND38.5 billion ($2 million) worth of shares.
