Vietnamese stocks tumbled today as investors sell off shares amid global rout on fears of euro-zone crisis and global economic slowdown. Volume soared thanks to big put-through deals.
The benchmark VN Index lost 12.15 points or 2.83 percent to 416.65. Volume roared 98.6 percent to 143.3 million shares worth of VND2.44 trillion.
Put-through trading contributed 80.4 million shares worth VND1.52 trillion. Of note, we saw super-large volume deals in the put through today including 60 million EIB shares changed hands at the floor price of VND17,100 each, 16 million STB shares changed hands in the put-through deal at the price of VND25,000 each and 1 million HSG shares changed hands at the reference price of VND19,200 each.
The market breadth was broadly negative on the primary bourse where 29 stocks advanced, 251 tumbled, 28 closed unchanged.
The VN30 Index dipped 12.76 points, or 2.52 percent, to 492.89. Amongst its 30 members, 1 stock rallied, 29 plunged.
The market opened in the red with 1.9 million shares changed hands, caution rose. The trading pace was slow, bottom fishing efforts could not stop the market fall and the index fell further as market progressed.
Market resumed the afternoon session with higher selling pressure and floor actions were popular. The selling jitter last until the last minutes and market closed at the low of the day. Stocks from heavy weighs to pennies lost the ground, loss was broad-based.
On the Hanoi Stock Exchange, the HNX nosedived 1.85 points or 2.48 percent to 72.51. Trading volume rose 40.8 percent to 44.2 million shares worth VND419.7 billion.
The market breadth was negative where 55 rallied, 209 declined, 35 closed unmoved.
Analysts said with the market dip provided good entrance and they still see good opportunities in local market.