At yesterday’s trading session at the HCMC bourse, despite the rise in the prices of 151 out of 153 listed stocks, the VN-Index only inched up by almost 4 points or 0.78 percent to close at 512. This was seen as a consequence of the market regulator’s decision to cut the share trading band from five percent to one percent.
Many investors left the trading floor before the end of the trading session. The buying volume was 42.2 million shares but only 2.7 million, worth approximately VND166 billion (US$10,466.582) changed hands. Buyers were mainly new investors who were prepared to hoard shares at their lower prices.
Up north in Ha Noi, the HASTC- Index rose 2.7 points or 1.5 percent to close at 178 with 127 stocks gaining and six remaining unchanged. The total volume of transactions in the trading session witnessed a sharp drop with only 0.6 million of shares valued at VND24 billion (US$1,513,240) traded.
Yesterday, an SJC tael dropped VND150,000 to close at VND18.55 million (US$1,169). At the Saigon Jewelry Holding Company, the buying volume was reported to increase by 8,000 taels.
On the same day, the world gold price in New York’s market dropped to US$943 an ounce, a decrease of US$10 over the previous day.