Low liquidity hits domestic markets
HA NOI (VNS)– Share movements remained unstable on low liquidity, closing down in Ha Noi while finishing higher in HCM City.
The VN-Index on the HCM City Stock Exchange added just 0.28 per cent to reach 480.48 points, getting the boost mainly through PetroVietnam Gas (GAS), steelmaker Hoa Sen (HSG) and insurer Bao Viet Holdings (BVH).
Trading value, however, fell 24.5 per cent compared to Monday's session, totalling VND611.27 billion (US$29.1 million) on a volume of 35.3 million shares.
Blue chips tumbled, dragging the VN30 down 0.27 per cent to 547.22 points. The index, representing the performance of HCM City's best stocks, failed to retain earlier gains due to the declines of 16 large-cap stocks. Only eight of the shares managed to close in the green.
On the Ha Noi Stock Exchange, the HNX-Index reached 61.09 points, a 0.28 per cent decrease from the previous day's close.
The HNX30, tracking the capital city's 30 leading shares in terms of capitalisation and liquidity, also dropped 0.34 per cent to 117.50 points.
Market value and volume reached around only 80 per cent of Monday's level, standing at VND249.4 billion ($11.8 million) and 32.8 million shares.
Meanwhile, technical indicators showed that negative signals had eased, FPT Securities Co analysts wrote in their daily report.
"However, low liquidity is a threat to a new rally," they said. Trading values and volumes have been declining for three consecutive sessions.
Market sentiment would remain the same during the next trading sessions with alternate ups and downs, the analysts predicted.
Foreign investors concluded yesterday's session as net buyers with a combined net purchase value of VND95.5 billion ($4.5 million). — VNS