June 12: Vietnam Stocks Close Down, Liquidity Falls Further

The benchmark VN Index lost 4.34 points or 1% to 428.16, breaking down support at 430. Volume fell 16.15% to 57.1 million shares worth of VND839.4 billion.

Put-through trading contributed 5.6 million shares worth VND121 billion.  Of note, we saw big volume deal of 1 million DTA shares changed hands at VND5,700 each.

The market breadth turned broadly negative on the primary bourse where 41 stocks advanced, 222 declined, 45 closed unchanged.

The VN30 lost 3.5 points or 0.69%, to 506.49. Amongst its 30 members, 3 stock rallied, 23 lost and 4 unchanged.

The market opened in the green with 2.5 million shares changed hands. The trading pace was slow as caution rose. Though bottom fishing  activities were seen and it pushed the market sometimes in the trading hours, but the selling pressure persisted and market fell into the negative territory, closed at the low of the day.

The news that law makers agreed to cut tax for selected SMEs could not inspire much buying energy today and the losses were seen across the board. Another news that traders noted today that the governor Nguyen Van Binh is not chosen to appear at the ongoing National Assembly’s Q&A session despite being highly requested by NA Deputies.

Fourth largest listed lender Sacombank (STB), the most active stock on a trade of 2.64 million shares, slipped 0.81% to end at VND24,300.

Ninh Van Bay Travel Real Estate Joint Stock Company (NVT), coming second in liquidity with 2.6 million shares changed hands, rose 2.13% to settle at VND4,800.

Largest listed stock broker Saigon Securities Incorporation (SSI) retreated 0.91% to finish at VND21,800 on a trade of 2 million shares – the third most active.

On the Hanoi Stock Exchange, the HNX lost 1.2 points or 1.58% to 74.6. Trading volume fell 28% to 43.5 million shares worth VND458.2 billion.

The market breadth was negative where 61 rallied, 203 declined, 46 closed unmoved and the rest unchanged.

VNDirect Securities (VND), the most active on the measure with 5.25 million shares changed hands, sank 4.13% to end at VND12,600.

PetroVietnam Construction (PVX), coming second in liquidity on a trade of 5.5 million units, slipped 2.78% to settle at VND10,500 per share.

Kim Long Securities (KLS) dived 4.55% to finish at VND10,500 per share on a trade of 2.6 million shares .