Many investors lost patience in keeping speculative stocks as the market performance continued to trail their targets, a stock analyst said. "Speculative stocks bring thick and quick returns for those jumping into a right time but claim more losses for those with bad time involvement," he added.
Shares on the Hanoi Stock Exchange broadly sank for a third straight day to stay longer in a seven-month low as traders sold speculative stocks on to stop loss amid uncertain market trend.
The HNX-Index, the measure of 323 stocks, lost 2.62 points, or 1.74%, to close at 147.86, the lowest since December 21, 2010.
The gauge lost 21% from this years high on May 6 and 15% in the year to date, becoming the worst performer in Asia, according to data from FPT Securities, which runs this website.
The market breadth remained very negative on the northern bourse where 38 stocks advanced, 255 declined, 10 closed unmoved and 19 were untraded.
Today, Van Lang Technology Development and Investment Joint Stock Company (VLA), which floated 1.08 million shares on the Hanoi bourse, closed at VND20,000 per share on an average of 43,000 shares traded.
The liquidity stayed as low as 31.5 million shares valued at VND815 billion.
PetroVietnam Construction (PVX) topped the liquidity on a trade of 3.93 million units, which dropped 2.26% to close at VND26,000.
Kim Long Securities (KLS) was the second most active stock with 2.1 million shares changed hands, closing down 2.3% to end at VND17,000.
Transport and Chartering Corporation (VFR) surged 5.31% to finish at VND23,800 on a trade of 1.7 million shares, becoming the third most active issue.
QTC was still the biggest gainer, adding a daily cap of 6.91% to finish at VND26,300. KBT led the downswing with a loss of 6.98%, closing at VND20,000.
Source: fpts.com.vn