Dec 7: Vietnam Stocks Extend Loss on Local Selling

The benchmark VN Index lost 2.99 point, or 0.765% to end at 387.21. Volume fell 18.6% to 30.8 million shares worth VND406.7 billion including 5 million shares worth VND69.4 billion changed hands in the put-through deals.

VN Index opened in the red with 1.7 million shares traded. Market traded in caution as buyers were reluctant and only accepted lower prices. The loss deepened towards the end of the trading session sending the index close at the low of the day.

Market breadth was negative among 306 listed firms on HOSE, losers outweighed gainers by 81-133 and 71 stocks unchanged and the rest untraded. As many as 21 stocks hit ceiling while 42 issues fell to the floor, 5% each side.

Among top 10 market caps, 1 rose (STB), 8 fell (HAG, MSN, VCB, BVH, VPL, CTG, EIB, VIC) and 1 unchanged (VNM).

International donors pledged to grant Vietnam $7.386 billion official development assistance (ODA) in 2012, or $0.5 billion lower than that of 2011, the information was announced at the Consultant Group meeting.

In separate stocks, market leading hot issue, securities stock SSI, continued to post loss while developer SJS climbed to the ceiling.

In terms of activeness, Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank (STB) led the market in volume with 2.6 million shares traded, closing up 0.7% to VND13,900.

Ocean Group JSC. (OGC) was second most active stock with 1.4 million shares trade, closing up 1.1% to VND9,300.

Military Commercial Joint Stock Bank (MBB) was in the third place with 1.2 million shares traded, closing down 9.6% to VND11,700. Today was ex-date of MBB’ dividend payment of VND1,200/share or 12% of par value, hence, the close price today was actually a positive result.

Tan Tao Investment – Industry Corporation (ITA) ranked forth with 1.1 million shares traded, closing up 1.3% to VND7,900.

Refrigeration Electrical Engineering Corporation (REE) was in the fifth place with 1 million shares traded, closing up 7.2% to VND11,800.

On the Hanoi Stock Exchange, the HNX closed down 0.27 point or 0.43% to 62.51. Trading volume fell 30.2% to 26.2 million shares traded for VND245.2billion of which 2.5 million shares worth VND36.1 billion were changed hands in put-through deals.

Market breadth was negative with 64 gainers, 168 losers and 46 flat issues and 115 untraded. Among top 10 market caps, 1 gained, 2 unchanged and 7 lost.

Of note, share prices of Orient Securities Corporation (ORS) continued to fall VND100 to VND2,500/share while share prices of Thai Hoa Viet Nam Group JSC (THV) stayed flat at VND4,900 after 3 day ceiling run.

High liquid and speculative shares KLS, VND, PVX, VCG, were all losers.

VNDIRECT Securities Corporation (VND) was the most active stock with 3 million shares changed hands, closing down 1.8% to VND10,700.

Kim Long Securities JSC (KLS) ranked second in the list with 2.5 million shares traded, closing down 1.9% to VND10,600 on average.

PetroVietnam Construction Joint Stock Corporation (PVX) came third with 1.8 million shares traded, closing down 2.1% to VND9,200 on average.