Sep 16: Vietnam stocks plunge on massive selling

Vietnamese stocks closed sharply lower today as investors sold shares aggressively to minimize risks.

The benchmark VN Index lost 13.56 points, or 2.88%, to end at 457.11. Volume fell 16.3% to 59 million shares worth VND1.27 trillion including 7.2 million shares worth VND295.4 billion changed hands in the put-through deals. Though volume eased today, it stayed at high level.

VN Index opened in the green with nearly 2 million shares traded. The trading was good, but soon VN Index fell into the negative ground, though both buyers and sellers were active in the play. Selling pressure was across the broad from the pennies to blue chips.

The market breath today was negative, among 301 shares listed firms on HOSE, losers outweighed gainers by 216-34 and 38 stocks unchanged. As many as 104 stocks fell to the floor while 13 issues hit the ceiling, 5% each side.

Among10 market caps, 8 lost and 2 unchanged.

Hoang Quan Consulting – Trading – Service Real Estate Corporation (HQC) was the most active stock with 2 million shares traded, closing down 4.7% to VND14,100

Tan Tao Investment – Industry Corporation (ITA) was in the second place with 2 million shares traded, closing down 2.7% to VND10,700.

PetroVietnam Fertilizer and Chemical JSC. (DPM) ranked third with 1.9 million shares traded, down 3.1 % to VND31,700.

Sacombank (STB) followed in the list with 1.7 million shares traded, closing flat at VND14,100.

Hoang Anh Gia Lai Corporation (HAG) was in the last in the top 5 active list with 1.5 million shares traded, closing down 4.9% to VND33,100.

On the Hanoi Stock Exchange, the HNX closed down 1.49 points or 1.95% to close at 74.88. Trading volume fell 20% to 51.7 million shares traded for VND583.04 billion of which 1.2 million shares worth VND23.8 billion were changed hands in put-through deals.

Market breadth was broadly negative with 72 gainers, 243 losers and 22 flat issues and 54 untraded. Among top 10 market cap stocks 4 gained, 6 fell.

Kim Long Securities JSC (KLS) was the most active stock with 5.5 million shares traded, closing down 1.6% to VND12,400 on average.

VNDIRECT Securities Corporation (VND) was in the second place with 3.8 million shares traded, losing 0.8 % to VND12,500 on average.

PetroVietnam Construction Joint Stock Corporation (PVX) ranked third in the list with 3 million shares traded, closing down 0.8% to VND12,500 on average.

Source Scarlet D./ Analyst / StoxPlus

Tags: vietnam stock, Vietnam stock market, VNindex