More gloom for Vietnam`s stock markets

Hanoi (VNA) - Vietnam 's stock market suffered another gloomy day as both the Ho
Chi Minh City and Hanoi bourses made further losses on February 5, with the
Hanoi stock exchange sinking to a record low.

In the north, the Hastc-Index lost 3.85 percent to close at 90.21 points, the lowest
closing value since the bourse became operational on March 8, 2005.

Although plummeting in value, the Hastc witnessed close to 5 million shares being
traded, at a total transaction value of 97.4 billion VND. These figures represented
a significant increase compared to the previous session, when just 3.6 million
shares, worth 76.9 billion VND were traded.

The VN-Index of the HCM Stock Exchange (HOSE) slipped 2.9 percent to close at 277.81
points, diving beneath the 286.85 mark it established on December 10, 2008, and
representing its lowest point since September 29, 2005.

Out of the 172 companies listed on the country's largest bourse, just 13 gained in
value on the day, while 143 suffered losses.

Despite a sharp fall on the southern bourse, more than 7.3 million shares worth
148.68 billion VND changed hands on the day, reflecting a 29 percent increase in
volume and a 26 percent hike in value over the previous trading session.

As the stock market heaped bad news upon investors, many cashed in their shares to
pre-empt any further losses.

Vu Bang, Chairman of the State Securities Commission, said that the psychology of
investors is still being affected by the poor health of the global markets and, as a
result, they are scrutinising the business records of listed companies, viewing them
as factors behind the poor performance of the stock market during the first months
of the year.-Enditem