HCMC bourse trading value plunges to two-year low

The trading value on the Ho Chi Minh Stock Exchange (HoSE) reached VND8,050 billion ($324 million) Wednesday, only two thirds of the previous session’s figure and the lowest level in two years.

The major bourse saw only 448 million shares changing hands. The VN-Index, which tracks the HoSE's performance, dropped by 4.34 points or 0.44% to 993.36, with 256 losers, including 43 hitting their floor prices, and 164 gainers.

Cash flows mainly went into financial and real estate stocks, with VND1,610 billion ($64.8 million) and VND1,176 billion ($47.3 million), respectively. Meanwhile, consumer goods, industrial, and energy stocks recorded a deep drop to less than VND1,000 billion ($40.26 million).

VND of VNDirect Securities led the market in terms of matching value with VND310 billion ($12.5 million), followed by DGC of Duc Giang Chemicals Corporation, HDC of Ha Do JSC, HPG of steel maker Hoa Phat and VHM of real estate developer Vinhomes in the range of VND160-210 billion.

Like domestic investors, foreign investors became cautious, disbursing only VND626 billion. They recorded a net selling value of VND57 billion ($2.3 million), the lowest in two months. They mainly sold VHM, VNM of Vinamilk and HPG.

On the Hanoi bourse, the HNX-Index dropped 2.07 points or 1% to 205.95, while the UPCOM-Index on the unlisted public company market fell 0.4 points or 0.52% to 75.85.