Dec 22: Vietnam Stocks Plunge on Massive Selling, HNX Sets Fresh All Time Low

The benchmark VN Index lost 7.35 points, or 1.99% to end at 360.37. Volume eased back 2.4% to 46.1 million shares worth VND787.65 billion including 14.7 million shares worth VND259.8 billion changed hands in the put-through deals.

We saw 6.4 million STB shares changed hands at VND14,300 each; and 5 million HAG shares changed hands at VND21,000 each, contributing heavily to the whole market liquidity today.

VN Index opened in the red with 0.5 million shares traded, caution prevailed. Selling pressure rose sharply soon after the open and VN Index sank further into the negative ground. Selling was aggressive, decisive with market orders, indicating the run-away effort which often comes from margin unwinding position or fire-sales.

Market breadth was broadly negative. Among 307 listed firms on HOSE, losers outweighed gainers by 186-49 and 56 stocks unchanged and the rest untraded. As many as 12 stocks hit ceiling while 112 issues fell to the floor, 5% each side.

Among top 10 market caps, 3 rose (VPL, STB and VIC), 6 fell (CTG, HAG, VCB, BVH, VNM, and MSN) and 1 unchanged (EIB).

Saigon Thuong Tin Commercial Joint Stock Bank  or Sacombank (STB) became the most active stock on the bourse today with 2.1 million shares traded, closing up 1.3% to VND15,200.

Becamex Infrastructure Development JSC. (IJC) ranked second with 1.7 million shares traded, closing down 4.6% to VND8,300.

Refrigeration Electrical Engineering Corporation (REE) was in the third place with 1.6 million shares traded, closing down 2.6% to VND11,200.

Ocean Group JSC. (OGC) ranked forth with 1.3 million shares traded, closing down 4.7% to VND8,100.

Saigon Securities Inc. (SSI)  was in the fifth place with 1.3 million shares traded, closing down 4.7% to VND14,100.

On the Hanoi Stock Exchange, the HNX closed down 1.37 point or 2.29% to 58.42. Trading volume rose 51.6% to 36.6 million shares traded for VND322.9 billion of which 10.6 million shares worth VND111.8 billion were changed hands in put-through deals.

Market breadth was positive with 57 gainers, 170 losers and 45 flat issues and 121 untraded. Among top 10 market caps, 1 gained, 8 lost and 1 unchanged.

Active stocks were all losers.

Kim Long Securities JSC (KLS) was the most active stock with 4 million shares changed hands, closing down 4.4% to VND8,700.

VNDIRECT Securities Corporation (VND) ranked second in the list with 3.2 million shares traded, closing down 5.8% to VND8,100 on average.

PetroVietnam Construction Joint Stock Corporation (PVX) came third with 1.7 million shares traded, down 3.9% to VND7,400 on average.