July 21: Vietnam stocks resume losing track on economic concerns

Vietnam’s stocks came back to the losing track as investors sold shares on concerns over macro economy with stubbornly high inflation and high interest rates.

The benchmark VN Index lost 3.71 points or 0.89% to 413.06. Volume fell 14.46% to 18.27 million shares worth VND345.82 billion, including 2.88 million shares worth VND86 billion changed hands in the put-through deals.

High inflation still haunts the local stock market as July CPI is expected to be worse-than-expected and no less than 1%.

Local gold prices hovered below yesterday close as global gold keeps shy of $1,600 threshold as investors waiting for a euro zone summit on Greece’s debt crisis.

There was a quietness of market driving news, trading was adrift by sentiment.

VN Index opened in the red with 0.9 million shares traded. The trading was sluggish, both buyers and sellers were cautious but no panic was seen. The market drifted lower toward the end of the trading session, liquidity drained.

Market breath today was negative, losers outpaced gainers by 142-73 and 60 stocks unchanged 23 stocks untraded. As many as 30 stocks fell to the floor while 15 issues hit the ceiling, 5% each side.

Newcomer HOT closed down 20% of debut limit to VND14,100 with 3,040 shares traded. Among top 10 market caps, 4 advanced, 1 stayed flat and 5 lost.

HQC suddenly won top active stock with 1.2 million shares traded, closing down 3% to VND13,200.

STB was the second most active stock today with 1.2 million shares traded, closing flat at VND13,900.

VSH was in the third place with 0.93 million shares traded, closing up 4.6% to VND9,100.

EIB and VCB followed in the list with 0.8 million shares traded and 0.7 million shares traded, respectively.

On the Hanoi Stock Exchange, the HNX index closed down 0.34 point or 0.47% to close at 71.35. Trading volume fell 21.78% to 17.48 million shares traded for VND195.69 billion of which 0.98 million shares worth VND13.4 billion were changed hands in put-through deals.

Market breadth was negative with 102 gainers, 128 losers and 79 flat issues and 77 untraded. 6 out of top 10 market cap stocks rose, 3 broke even, 1 fell.

KLS was the most active stock with 3 million shares traded, closing up 0.9% to VND10,800 on average.

VND was in the second place with 1.4 million shares traded, closing flat at VND10,300 on average.

PVX ranked third in the list with 1.2 million shares traded, closing up 0.9% to VND11,500 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