Oct 3: Vietnam stocks extend loss as selling continues

Vietnamese stocks kicked off the new month in the red as investors continued to sell shares to minimize risks.

The benchmark VN Index lost 5.48 points, or 1.28%, to end at 422.12. Volume fell 14% to 29.5 million shares worth VND494.8 billion including 2.9 million shares worth VND76.4 billion changed hands in the put-through deals.

Volume continued to fall, indicating caution in place amid the quietness of market driving news and concerns over divestments of state-owned corporations.

VN Index opened in the red with nearly 1 million shares traded. Selling pressure was still there while buyers were cautious, the market went further south as it progressed and closed at the low of the day.

The market breath today was negative, among 301 shares listed firms on HOSE, losers outweighed gainers by 184-48 and 49 stocks unchanged. As many as 76 stocks fell to the floor while 12 issues hit the ceiling, 5% each side.

Among top 10 market caps, 3 rose, 7 lost. Three bank stocks VCB, CTG, EIB fell. Three heavy weighs MSN, VIC, BVH also slide.

For the active players, Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank (STB) was the most active stock with 1.4 million shares traded, closing down 1.4% to VND14,500.

Hoang Quan Consulting – Trading – Service Real Estate Corporation (HQC) was in the second place with 1.3 million shares traded, closing unchanged at VND13,800.

Sacom Development and Investment Corporation (SAM) ranked third with 1.2 million shares traded, closing down 1.5% VND6,700.

Saigon Securities Inc. (SSI) stayed in the fourth place with 1 million shares traded, closing down 3% to VND18,900.

Thuan Thao Corporation (GTT) was in the last in the most active list with 0.8 million shares traded, closing down 3% to VND6,400.

On the Hanoi Stock Exchange, the HNX fell 0.96 point or 1.4% to close at 70.38. Trading volume rose 13% to 36.7 million shares traded for VND363.47 billion of which 3.8 million shares worth VND28.1 billion were changed hands in put-through deals.

Market breadth was negative with 66 gainers, 212 losers and 36 flat issues and 78 untraded. Among top 10 market caps, 2 gained and 2 unchanged and 6 fell.

Kim Long Securities JSC (KLS) was the most active stock with 3.6 million shares traded, closing down 3.4% to VND11,400 on average.

VNDIRECT Securities Corporation (VND) was in the second place with 3 million shares traded, closing down 4.4% to VND11,000 on average.

PetroVietnam Construction Joint Stock Corporation (PVX) ranked third in the list with 2 million shares traded, closing down 3.5% to VND11,200 on average.

Source Scarlet D./ Analyst / StoxPlus

Tags: vietnam stock, Vietnam stock market, VNindex