Oct 5: Vietnam stocks continue to loss, blue chips weighed

Vietnam stock market closed down today as investors sold shares to cut losses after the VN Index extended losing streak to six days to close at five-weeks low.

The VN-Index, the measure of 297 stocks and five closed-end funds, lost 0.97 points, or 0.23%, to close at 417.21, the lowest level since August 29.

The gauge lost 4.6% in the six-day run, widening this year’s loss to 14% amid economic uncertainty and credit crunch.

Trading volume rose 34% from a day earlier to 34 million shares changed hands for a total value of VND596 billion, up 43%.

The market breadth, however, turned positive with 135 gainers, 97 losers, 70 flat issues and 16 stocks untraded.

Heavy weighs :Bao Viet Holdings (BVH), Masan Group (MSN) and Vincom (VIC) dragged the market performance although gainers outnumbered losers.

The market is testing the determination of the buy-side as the market confidence is eroding. Buyers were more active today as bargain hunters sought for good deals after recent losing sessions.

Becamex Infrastructure Development Joint Stock Company (IJC) was the most active stock with 5.6 million shares traded, closing down 4.13% at VND11,300. The stock was the best performer in September with an increase of 135% before sliding for at least five straight days.

Binh Duong Trade and Development Joint Stock Company (TDC) was the second most active on a trade of 2.3 million shares, sinking 4.08% to end at VND9,400.

Tan Tao Investment – Industry Corporation (ITA) was in the third place, climbing 1.1% to finish at VND9,400 on a trade of 1.7 million shares.

DTA led the downswing with 5% loss to VND5,700. BAS was the biggest gainer, adding 5.56% to end at VND1,900.

On the smaller cap bourse, the HNX closed at 1 month low as local investors sold shares amid rising uncertainties and lack of supporting news.

The HNX-Index, the measure of 393 stocks, lost 0.12 point, or 0.17%, to end at 70.46, the lowest close since August 29. The market volume was a little changed from a day earlier, totaling 33.2 million shares worth VND340 billion, also down 11%.

The market breadth was positive as 139 rallied, 95 tumbled, 76 closed unmoved and 83 stocks were untraded.

VNDirect Securities (VND) was the most active stock with 3.67 million shares changed hands, rising 1.82% to finish at VND11,200.

Kim Long Securities (KLS) came in second with 2.3 million units traded, edging up 0.88% to VND11,400 per share.

PetroVietnam Construction (PVX) closed unmoved at VND11,100 on a trade of 2.2 million shares – the third most active.

Source StoxPlus

Tags: vietnam stock, Vietnam stock market, VNindex