Tuesday, December 19 2017

VietNamNews

Stocks fall on waning liquidity

Update: September, 30/2014 - 09:04
The VN30 dropped 1.02 per cent to finish at 642.98 points.— Photo chungta
HA NOI (VNS)  — The VN-Index yesterday fell below the psychological support level of 600 points, losing 0.86 per cent to close the session at 599.78 points.

Blue chips dragged the market down substantially. Most of the top 30 shares by market value and liquidity sank, including Vinamilk (VNM), Masan Group (MSN), VinGroup (VIC), Bao Viet Holdings (BVH), Kinh Do Corp (KDC), Vietcombank (VCB) and Vietinbank (CTG).

The VN30 dropped 1.02 per cent to finish at 642.98 points.

Saigon Securities Inc (SSI), the biggest securities company on the HCM Stock Exchange, found itself among the few gainers yesterday, sustained by the information that the Australian bank ANZ would sell its entire stakes in the brokerage company.

SSI rose 5.14 per cent to end the session at VND30,700 (US$1.45) per share with nearly 14.4 million shares traded, making it the most active code.

SSI chairman Nguyen Duy Hung said ANZ's divestment would provide opportunities for other foreign investors who could not buy-in because all shares allotted to foreigners had been taken since 2011.

The market volume changed little compared with the previous session, totalling 127.43 million shares, worth VND2.756 trillion (US$130.6 million).

On the Ha Noi Stock Exchange, the HNX-Index ended flat at 88.57 points, despite rising for most of trading time.

Blue chips, which drove the market's momentum in the morning, reversed their growth in the afternoon, pushing the HNX30 down 0.02 per cent to stand at 181.11 points.

Liquidity waned, with the trading volume decreasing 20 per cent from the previous session, reaching 59.5 million shares. The market value dropped 10 per cent to VND892 billion (US$42.3 million).

Speculative stock PetroVietnam Construction Corp. (PVX) remained the most active stock with 8.2 million shares traded, closing flat at VND6,900 per share.

Foreign investors unloaded stocks to realise profits in the HCM City's market while channelling money into the Ha Noi Stock Exchange. They were responsible for a net sell value of nearly VND35 billion (US$1.7 million) in HCM City.

In Ha Noi, they picked up shares worth VND13.2 billion (US$626,000). — VNS

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