Losses continue to hit markets

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Losses continue to hit markets

Vietnam News - 8/5/2015 9:48:29 AM

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Local shares yesterday extended losses on both bourses as blue chips continued their recent slip. Market liquidity also took a sudden tumble, ending at two-thirds of Monday's figure.

The national stock market traded a total 122.6 million shares worth VND2.11 trillion (US$97 million).

The combination of low market liquidity, high market supply and weak market demand from cautious investors made the market decline.

The market weakened also because foreign investors remained quiet. They traded 15 million shares on both bourses, resulting a net sell value of VND34 billion ($1.56 million) on HCM market and a net buy value of VND18.7 billion ($857,800) on the Ha Noi market.

On both bourses, declining stocks outnumbered gaining ones by 214 to 168 shares.

On the HCM Stock Exchange, the VN-Index struggled to stay positive at the beginning of the session but finally closed down 8.71 points at 600.76 points.

The most powerful codes on the market continued their downtrend. Of the ten largest stocks in terms of capitalisation and market liquidity, only Hoa Phat Group Joint Stock Company (HPG) recorded a small gain of VND100.

Ma San Group Corporation (MSN) lost VND4,500; Bao Viet Holdings (BVH) fell by VND2,900; Viet Nam Dairy Products Joint Stock Company (VNM) decreased by VND2,000; and Vietcombank (VCB) was down VND1,900.

Most gas codes stayed either flat or lower than previous values with the world Brent price on down to below $50 per barrel on Monday.

Some codes showed improvements in yesterday's session, including Sai Gon Securities Incorporation (SSI), HCM City Securities Corporation (HCM) and FPT Corporation (FPT).

SSI was the most active code on the southern bourse with more than 3.6 million shares traded, followed by FLC Group (FLC) and BIDV (BID).

The Ha Noi Stock Exchange's HNX-Index fluctuated around its previous score, ending at 83.17 points - a slight decrease of 0.17 per cent.

After two consecutive declining sessions, low-price supply from shareholders was lower.

Key stocks were unable to maintain early growth and ended mixed.

Bao Viet Securities JSC (BVS) and VNDirect Securities JSC (VND) recorded slight increases while Sai Gon Thuong Tin Real Estate JSC (SCR) and Sai Gon-Ha Noi Bank (SHB) went unchanged.

On the northern bourse, Petro Vietnam Construction Joint Stock Corporation (PVX) ended as the most active code with nearly 4 million shares exchanged.

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