May 29: Vietnam Stocks Extend Loss, Volume Shrinks to 3 Month Low on Caution

The benchmark VN Index lost 4.04 points or 0.93% to 431.44. Volume fell 28.33% to 47.6 million shares worth of VND719.2 billion.  This was the lowest trading volume since February 20 as investors stayed cautious.

Put-through trading contributed 1.8 million shares worth VND34.28 billion. We saw 450,000 NVT shares changed hands for VND4,400 each.

The market breadth was broadly negative on the primary bourse where 91 stocks advanced, 171 tumbled, 47 closed unchanged.

The VN30 Index lost 2.63 points, or 0.51%, to 510.81.

The market opened in the red as selling momentum continued, there were some bargain hunting efforts but not strong enough to change the market theme.

Stocks from blue chips to pennies  mostly closed down and it should be noted that heavy weighs VCB, GAS, BVH were laggards today while MSN still unchanged.  

Outstanding perfromance today were the names of SBT and SBS whose share prices hit the ceiling with steady high demand.

On the Hanoi Stock Exchange, the HNX index lost 0.3 point or 0.4% to 75.3. Trading volume fell 41% to 32 million shares worth VND333.3 billion, lowest volume since Feb 16.

The market breadth was negative  on the northern exchange. Among index members,  71 rallied, 148 tumbled, 81 closed unmoved, and the rest were untraded.

Market sentiment was still weak today and was reflected in the volume.