Oct 10: Vietnam stocks close mixed, volume at 2 months low

Vietnamese stocks closed mixed today as investors bought blue chips on HOSE but still sold shares on the smaller cap bourse HNX, liquidity fell to the lowest level in 2 months on caution.

The benchmark VN Index added 1.7 points, or 0.4%, to end at 419.66. Volume fell 29.9% to 22.8 million shares worth VND357.7 billion including 2.6 million shares worth VND43.45 billion changed hands in the put-through deals.

Volume continued to fall, indicating caution in place as investors had not much time to react to the news of petroleum price cut.

Today the Ministry of Finance requested the wholesale petroleum to cut domestic diesel and kerosene prices by 1.92% and 1.47% respectively to corresponding VND20,400/liter and VND20,200/liter, effective from 11 a.m, October 10, 2011 in an effort to fight with Asia’s highest inflation.

The news triggered some late buying on the HOSE but investors kept muted response on the HNX.

Today was also the effective date of refinancing interest rate hike to 15% from previous 14%.

Back to the market, VN Index opened in the red with over 0.7 million shares traded. Selling pressure was still there while buyers were cautious. Trading was very sluggish, resulting in lowest volume in 2 months despite some late buying which sent the index back to the positive ground.

The market breath today was negative, among 301 shares listed firms on HOSE, losers outweighed gainers by 142-76 and 67 stocks unchanged. As many as 29 stocks fell to the floor while 15 issues hit the ceiling, 5% each side.

Among top 10 market caps, 5 gained, 1 unchanged, 4 lost. Heavy weighs BVH, MSN, VIC soared while bank shares VCB and CTG also gained today.

For the active players, Petrovietnam – Idico Long Son Industrial Park Investment JSC. (PXL) was the most active stock with 1 million shares traded, closing down 3.5% to VND5,600.

Becamex Infrastructure Development JSC. (IJC) was in the second place with nearly 1 million shares traded, closing down 4.7% to VND12,100.

Vietnam Export Import Commercial Joint Stock Bank (EIB) ranked third with 0.8 million shares traded, closing down 0.6% to VND15,900.

Post and Telecommunication Investment and Construction JSC. (PTC) stayed in the fourth place with 0.7 million shares traded, closing up 4.6% to VND18,200.

Pha Lai Thermal Power JSC. (PPC) was in the last in the most active list with 0.7 million shares traded, closing down 1.4% to VND7,200.

On the Hanoi Stock Exchange, the HNX bucked trend to close down 1.04 points or 0.45% to close at 70.46. Trading volume fell 20.8% to 24.9 million shares traded for VND247.4 billion of which 1.3 million shares worth VND15.72 billion were changed hands in put-through deals.

Market breadth was negative with 65 gainers, 187 losers and 52 flat issues and 89 untraded. Among top 10 market caps, 1 gained and 1 unchanged and 8 fell.

Kim Long Securities JSC (KLS) was the most active stock with 2 million shares traded, closing down 2.6% to VND11,400 on average.

VNDIRECT Securities Corporation (VND) was in the second place with 1.7 million shares traded, closing down 3.5% to VND11,200 on average.

PetroVietnam Construction Joint Stock Corporation (PVX) ranked third in the list with 1.3 million shares traded, closing down 2.6% to VND11,100 on average.

Source Scarlet D./ Analyst / StoxPlus

Tags: vietnam stock, Vietnam stock market, VNindex