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VietNamNews

Falling liquidity halts City rally

Update: December, 26/2013 - 09:40
Investors watch share movements at SME Securities Co. Share prices slid on the HCM City bourse while adding value across the electronic board in Ha Noi yesterday. —VNA/VNS Photo Pham Hau

HA NOI  (VNS) — Share prices slid in the HCM City bourse while adding value across the electronic board in Ha Noi yesterday, though the momentum remained somewhat muted.

On the HCM City Stock Exchange, the VN-Index ended the session 0.24 per cent lower at 504.42 points.

The VN30 Index, representing the city's 30 largest stocks, also lost 0.3 per cent to plunge to 561.18 points as losers outnumbered gainers 16 to five.

Trading declined 21.5 per cent to around VND980.7 billion (US$46.2 million) and 73.6 million shares, compared to Tuesday.

Meanwhile, on the Ha Noi Stock Exchange, the HNX-Index rose by a modest 0.13 per cent to 68.21 points, but the HNX30 Index comprising 30 top blue chips fell 0.44 per cent to 128.90 points.

The value of trade accomplished reached VND382.6 billion ($18 million), or 61.2 per cent of Tuesday's level, with a volume of nearly 47 million shares.

Ha Noi Investment General Corp (SHN) and (PVX) were the most active stocks in Ha Noi. The SHN hit its ceiling price for the 18th straight day, while PVX also rose to the ceiling price for four successive sessions.

Nearly 8.7 million PVX shares changed hands. Market Vector Viet Nam ETF sold out all the PVX shares it had been holding.

Investors remained quite cautious yesterday. While, currently, supportive information was hard to come by, news about the US' tapering of its QE3 package and Viet Nam's economic data for this year have all been announced and have impacted the market.

Meanwhile, the information that could have a far more direct influence, namely lifting of the foreign ownership restrictions, joining the Trans-Pacific Partnership trade talks and corporate operations' results will become public only with the advent of the new year.

Foreign investors turned out yesterday as net buyers on both exchanges, increasing their net buying value to the tune of more than VND77.5 billion ($3.6 million). — VNS

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