Saturday, October 22 2016


Market inches down despite rising liquidity

Update: June, 27/2015 - 09:41
The new Decree, issued on Thursday afternoon, is expected to draw more foreign investment into the stock market. — File Photo
HA NOI (VNS)  — The nation's two indices continued to slide yesterday despite the Government replacing Decree 58/2012 with Decree 60/2015, allowing foreign investors to increase their ownership to 100 per cent of Vietnamese listed public companies.

The new Decree, issued on Thursday afternoon, is expected to draw more foreign investment into the stock market.

Foreign investors were net buyers, with a net purchase value of VND478.87 billion (US$22 million), most of which, VND460 billion ($21.3 million) was in the HCM City Stock Market.

The new Decree helped market liquidity increase by 73.8 per cent over Thursday to a total of VND3.91 trillion (US$181 million) on both bourses, but it also encouraged traders to increase their selling activity, putting heavy pressure on shares and led to the decline of both indices.

All bank and gas socks declined from Thursday values while securities shares lead the growing segment.

On the HCM City bourse, the VN-Index declined by 1.06 per cent to 581.75 points with 122 decliners and 99 gainers.

The VN30 Index, which tracks top 30 shares in capitalisation and liquidity, maintained its growth most of the time during yesterday session. However, it lost 0.09 per cent to stand at 608.92 points at the end of the day.

Among 30 largest shares, 14 declined from their Thursday values. Vietcombank (VCB) and Hoa Sen Group (HSG) saw the strongest falls of 4.69 and 6.54, respectively.

In contrast, the Vietnam Dairy Products Joint Stock Company (VNM) rose by 2.7 per cent to VND114,000 per share, while securities shares such as FPT Corporation (FPT), HCM City Securities Corporation (HCM) and Sai Gon Securities Incorporation (SSI) gained 2.89, 3.1 and 2.52 per cent in market value.

FLC Group (FLC) remained the most active code on the market with nearly 27 million shares being traded, and gaining 3.49 per cent to end at VND8,900 per share.

On the Ha Noi Stock Exchange, the HNX Index lost 1.07 per cent to finish at 85.52 points with 112 losers and 93 advancers while the HNX30 Index fell by 1.01 per cent to 164.16 points.

Blue chips on the northern bourse were also down. Sai Gon-Ha Noi Bank (SHB), Petroleum Technical Services Corporation (PVS) and Drilling Mud Corporation (PVC) in turn dropped by 2.78, 2.51 and 3.21 per cent.

Securities shares grew, as mentioned earlier. VNDirect Securities JSC (VND), Sai Gon-Ha Noi Securities JSC (SHS), IB Securities JSC (VIX) and Bao Viet Securities JSC (BVS) gained 5.07, 2.35, 9.52 and 4.14 per cent respectively.

VNDirect Securities JSC (VND) was the most active code on the northern bourse with nearly 6.2 million shares being traded yesterday. There were ten stocks that traded more than 2 million shares. — VNS

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