Apr 14: VN-Index declines on weak sentiment

Shares on the Hochiminh Stock Exchange declined for a second straight day as investors lost appetites for equity assets on fears of risks they might face amid market uncertainties.

Bad news may all come out but the market lacked supports of buy-side, a stock analyst in Hanoi said.

As it is unlikely to win in this bearish market, many investors decide to sit on the sideline to wait for April economic data and first-quarter corporate earnings reports, he noted. “Investors are recommended to watch out before taking any actions,” he tipped.

The VN-Index, the measure of 282 stocks and five closed-end funds, lost 0.38 points, or 0.08%, to end at 460.63. The gauge slid 12% from the yearly high in February and nearly 5% in the year to date

The market breadth was very negative on the primary bourse where 55 stocks advanced, 155 declined and 76 closed unmoved.

The traded volume was a little changed from a day earlier, totaling 24.3 million shares and fund units valued at 496 billion dong.

HCM City-based lender Sacombank (STB), the most active on the gauge with 3.1 million shares traded, inched up 0.72% to end at 13,900 dong. This is the only stock with a traded volume of over 1 million units.

Saigon Securities Inc (SSI), the largest stock brokerage house on HOSE, coming second in liquidity with 680,000 shares changed hands, dipped 1.36% to finish at 21,700 dong.

Licogi 16 (LCG), a construction firm, shed 1.895 to settle at 25,900 dong on a trade of 600,000 shares – the third most active.

HU3 was the biggest normal loser, dropping 5% to 17,100 dong. PXL was the biggest gainer, rising 5% to 6,300 dong. – FPTS

Tags: vietnam stock, Vietnam stock market, VNindex