July 15: Vietnam stocks fall on lack of liquidity

Vietnam’s stocks closed down today as sellers were more decisive to cash out on lack of liquidity, weak sentiment.

The benchmark VN Index lost 4.19 points or 1% to 414.74. Volume continued to fall 19.37% to 19.34 million shares worth VND377.69 billion, including 2.65 million shares worth VND99.94 billion changed hands in the put-through deals.

For the week, VN Index lost 15.58 points or 3.62% with an average daily volume of 27.47 million shares.

Lack of cash flows makes the trading sluggish, boring, active trade was seen at some selective stocks only. The short term downtrend was intact.

In the macro front, there was no supportive news in sight, investors stayed cautious.

The market opened in the green with 0.79 million shares traded, caution still remained. Most market players were in the sidelines, liquidity drains. Though there were some attempts to push up the share prices in selective stocks, the broad market was weak. VN Index closed off the low but still deep in the underground.

After hitting ceiling yesterday, both PVF and VCB share prices fell this morning, indicating the weak steam of the bulls.

SSI, an indicator of the market performance, also succumbed to the selling pressure and closed down.

Market breath today was negative, losers outpaced gainers by 135-67 and 72 stocks unchanged 20 stocks untraded. As many as 32 stocks fell to the floor while 15 issues hit the ceiling, 5% each side.

Among top 10 market caps, 2 advanced, 2 stayed flat and 6 lost.

Securities stocks were stronger than the market on earnings news but also suffered from the market cold. HCM reported a pretax profit of VND58 billion in Q2/2011, SSI estimated VND11Bln net profit in Q2/2011, KLS reported a net profit of VND55.47 billion in Q2/2011.

STB was the most active stock with 1.7 million shares traded, closing up 0.7% to VND13,600. In recent trading, the threshold VND13,600 looked firm.

HQC was the second most active stock today with 1.7 million shares traded, closing up 2.9% to VND14,200, putting an end to its 12 straight sessions of floor action with a loss of 48%.

OGC was in the third place with 0.83 million shares traded, closing down 3.2% to VND12,200.

SBT and KBC followed in the list with 0.8 million shares traded and 0.6 million shares traded, respectively.

On the Hanoi Stock Exchange, the HNX index fell 0.34 point or 0.47% to close at 71.54. Trading volume sled 17.8% to 16.08 million shares traded for VND168.72 billion of which 2.2 million shares worth VND19.24 billion were changed hands in put-through deals.

Market breadth was negative with 92 gainers, 124 losers and 85 flat issues and 84 untraded. 5 out of top 10 market cap broke even, 5 fell.

KLS continued to be the most active stock with 1.7 million shares traded, closing down VND0.9% to VND10,600 on average. Demand on this share was firm.

VND was in the second place with 1 million shares traded, closing down 0.9% at VND10,400 on average.

PVX ranked third in the list with 0.9 million shares traded, closing down 0.9% to VND11,400 on average.

On this smaller cap bourse, the average trading price is taken as the midpoint price of the following trading session where share prices are allowed to move 7% either side. – Stoxplus.com

Tags: vietnam stock, Vietnam stock market, VNindex