May 15: Vietnam Stocks Post Biggest Losses in 1 Year on Massive Sell-off

The benchmark VN Index fell for a fifth day, losing 14.04 points or 2.98% to 455.65. Volume declined 14.9% to 97.2 million shares worth of VND1.58 trillion.

Put-through trading contributed 5.5 million shares worth VND141.12 billion.  Of note, 1.2 million GMD shares were changed hands in the put-through deal at the price of VND26,500 each.

The market breadth was broadly negative on the primary bourse where 29 stocks advanced, 254 tumbled, 25 closed unchanged, and 4 stocks were untraded.

The VN30 Index lost 13.45 points or 2.51%, to 522.9 with 30.4 million shares changed hands for VND670.9 billion.

The market opened in the red with 4.4 million shares changed hands. The trading pace was slow, caution rose. There were some bottom fishing efforts but selling pressure was so high that the redness were everywhere and the index had no way to go but the south in the end.  Floor actions were popular even for defensive stocks, market closed at the low of the day. Liquidity fell but still stayed at high level.

The market spot today was STB which bucked the trend to close up with 1.8 million shares traded. Meanwhile, VCB fell to the floor with 1.5 million shares traded. With highest weigh on the index, it is no doubt that VCB deepened the loss of the market today to 1 year record.

Losses were across the board, from blue chips to pennies, from high beta to defensive ones.

Third largest listed lender Eximbank (EIB), the most active stock on a trade of 3.45 million shares, slid 0.55% to end at VND18,100.

SACOM Development and Investment Corporation (SAM), coming second in liquidity with 3.4 million shares changed hands, shed 4.6% to settle at VND8,300.

Becamex Infrastructure Development Joint Stock Company (IJC) gave up 4.88% to finish at VND11,700 on a trade of 2.8 million units – the third most active.

On the Hanoi Stock Exchange, the HNX fell 2.03 points or 2.57% to 76.81,  the lowest since April 11.

Trading volume eased 14.6%  to 78.2 million shares worth VND806 billion.

The market breadth was very negative where 37 rallied, 268 tumbled, 31 closed unmoved, and 60 were untraded.

Hanoi-based lender Habubank (HBB), the most active on the measure with 7.7 million shares changed hands, retreated 5.08% to end at VND5,600.

PetroVietnam Construction (PVX), coming second in liquidity on a trade of 7.5 million units, slid 2.88% to close at VND10,100 per share.

Kim Long Securities (KLS) gave up 5.13% to settle at VND11,100 on a trade of 4.6 million shares – the third most active.