The stock market continued its correction phase this morning with shares on both national exchanges losing value.

The benchmark VN-Index on the HCM City Stock Exchange was off 0.92 per cent to stand at 449.96 points, with the trading value reaching VND652.3 billion (US$31.2 million).

Today the new VN30 basket makes its debut, with Southern Rubber Industry (CSM) and Petro Viet Nam Low Pressure Gas Distribution (PGD) replacing Tan Tao Industry Investment (ITA) and Tu Liem Housing (NTL).

Ending this morning, both CSM and PGD shed value, with CSM sliding 0.73 per cent to close at VND27,100 ($1.30) a share, and PGD gave up 2.7 per cent to VND33,000 ($1.58) each.

Most blue chips of the VN30 also declined, pushing the Index down 0.92 per cent to 530.06 points. (The VN30, tracking the top 30 shares by market capitalisation and liquidity on the southern bourse, is adjusted twice a year.)

ITA was still the most active code this morning on trades of 3.3 million shares, closing flat at VND6,500 a share.

On the Ha Noi Stock Exchange, the HNX-Index also fell 1.16 per cent to a close of 61.33 points.

More than 38 million shares, worth VND249 billion ($11.9 million), changed hands.
Sai Gon-Ha Noi Bank (SHB) and Ha Noi Investment General Corp (SHN) were the most active code on the northern bourse, with each code seeing 5.5 million shares traded. While SHB closed unchanged at VND6,800 a share, SHN closed at the ceiling price of VND 2,200 each.

Trading was due to resume at 1pm.