Nov 11: VN-Index Breaks Down 400 Threshold, HNX Sets Fresh All Time Low

The benchmark VN Index lost 4.73 points, or 1.17% to end at 396.3. Volume soared to 47.3% to 37.3 million shares worth VND574.4 billion including 15.4 million shares worth VND281.73 billion changed hands in the put-through deals. Of note, 12 million STB shares were changed hands in the put-through today.

For the week, VN Index post full week losses of 14.27 points or 3.48%, extending year-to-date loss to 88.36 points or 18.23%.

VN Index opened in the red with 0.5 million shares traded, trading was sluggish there was an attempt to boost the prices higher during the order-matching session, however, the effort lost steam and market fell deeper into the negative ground.

Market breadth was negative, among 305 listed firms on HOSE, losers outweighed gainers by 189-46 and 41 stocks unchanged and the rest untraded. As many as 75 stocks fell to the floor while 14 issues hit the ceiling, 5% each side.

Among top 10 market caps, 1 rose (STB), 5 fell (HAG, VCB, BVH, VCB, VPL) and 4 unchanged (CTG, EIB, VIC, VNM).

Market spot lights today were Military Commercial Joint Stock Bank (MBB) which bucked the trend to close up 1.7% at VND12,000, extending its gaining streak to a second day.

Saigon Thuong Tin Commercial Joint Stock Bank  or Sacombank (STB) also gained 1.5% to VND13,900.

Market leader Saigon Securities Inc. (SSI)  closed down one price line from the neutral one but trading was not very bad, indicating certain pillow in this price area.

On the downside, Hoa Phat Group JSC. (HPG) marked its 10 consecutive losing sessions today .

Property stocks continued to be beaten down, DXG, DIC, DIG, HAG, ITA, ITC, KBC, PTL, SJS were also losers, some hit the floor.

On the Hanoi Stock Exchange, the HNX set fresh all time low with a loss of 0.22 point or 0.34% to 63.6. Trading volume fell 24.8% to 19.8 million shares traded for VND207.1 billion of which 1.6 million shares worth VND18.75 billion were changed hands in put-through deals.

For the week, HNX Index lost 2.37 points or 3.59%, extending year to date loss to 50.64 points or 44.33%.

Market breadth was negative with 84 gainers, 104 losers and 87 flat issues and 118 untraded. Among top 10 market caps, 2 gained, 1 lost and 7 unchanged.

High liquid and speculative shares KLS, VND, PVX showed some efforts to recover today, especially after the news that KLS has disbursed VND1.161 trillion raised from issuing new shares earlier.

Trading of KLS at the neutral line VND10,000 was a real fighting, however, the bulls could not gather enough steam. Price range was limited, 2.6 million KLS shares changed hands, closing down 1 line from neutral price although on average, it stayed unchanged.

VNDIRECT Securities Corporation (VND) came second with 1.8 million shares traded, closing down to unchanged at VND9,900 on average.

PetroVietnam Power Land Joint Stock Company ranked third in the list with 1.5 million shares traded, closing down 1% to VND9,800 on average.