There is no supporting news to redirect the market while negative information continues to be released, a stock analyst said. Vietnam suffered a trade gap of $8.15 billion in the first eight months of this yea, equal to 18.3% of export revenues - the first time to stand below 20% this year, the Government Statistics Office said.
Shares on the Hanoi Stock Exchange nosedived for a seven consecutive day to a roughly 16-month low as investors desperately sold out shares to exit the bear market and seek other opportunities.
Meanwhile, global stock markets continued to be hit hard by gloomy economic performances worldwide.
The HNX-Index, the measure of 328 stocks, lost 5.59 points, or 4.49%, to 118.81, the lowest close since May 4, 2009.
The gauge dropped over 36.5% of its value from this years high of 187.22 points on May 6 and more than 29% this year, becoming the worst performer in Asia, according to data compiled by FPT Securities, which runs this website.
The market breadth was very negative on the northern bourse where only 24 stocks advanced but 286 declined, six closed unchanged and 12 were untraded.
The market liquidity was a bit higher from a day earlier at 36 million shares valued at VND754 billion.
PetroVietnam Construction (PVX) remained the most active on the gauge with 6.8 million units changed hands, which plunged 5.56% to close at VND20,400.
Kim Long Securities (KLS), coming second in liquidity on a trade of 3.44 million shares, dropped 5.84% to end at VND12,900.
Vinaconex (VCG), the largest construction firm on the gauge, declined 6.19% to finish at VND19,700 on a trade of 1.4 million shares, the third most active.
Value heavyweights continued to weigh on the market downturn. PetroVietnam Insurance (PVI) dipped 6.09% to settle at VND18,500. Bao Viet Securities (BVS) shed 5.97% to end at VND18,900.
Most gainers were penny stocks with very small traded volumes. YSC added 6.84% to VND20,300 on a trade of only 100 units - the smallest volume required for a trading order.
Source: fpts.com.vn