Nov 14: Vietnam Stocks Extend Loss on Massive Selling

The benchmark VN Index lost 4.56 points, or 1.15% to end at 391.74. Volume eased 0.5% to 37.1 million shares worth VND557.5 billion including 9.97 million shares worth VND203.7 billion changed hands in the put-through deals. Of note, 4 million HAG shares were changed hands in the put-through today.

Active put-through trading showed that corporate are taking aggressive measures to “restructure”, especially when the deadline to bring non-production loan ratio in the banking system to 16% is getting close.

VN Index opened in the green with nearly 1 million shares traded following gains in the global markets. However, sellers were right there, taking advantage of higher prices as exit opportunity. The market fell back into the negative ground again, and at some point, VN Index fell under 390 before it pared the loss to close off the low.

Market breadth was negative, among 305 listed firms on HOSE, losers outweighed gainers by 190-46 and 44 stocks unchanged and the rest untraded. As many as 91 stocks fell to the floor while 9 issues hit the ceiling, 5% each side.

Among top 10 market caps, 2 rose (VNM and MSN), 6 fell (HAG, VCB, CTG,  BVH, VPL, VIC) and 2 unchanged (STB, EIB).

Blue chips were stronger than the market, of which, banks’ shares lost the least.

Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank (STB) closed flat at VND13,900 with 1.7 million shares traded. EIB closed unchanged while other lenders’ shares closed slightly lower but were still better than the broader market.

Property shares continued to be sold heavily and aggressively. DIG, DXG, ITC, KBC, NTL, SJS, VIC were among floor losers.

Securities stocks were also losers.  Saigon Securities Inc. (SSI) closed down 2.4% to VND16,300.

Market has not yet shown any sign of recovery when speculative stocks were offloaded aggressively. None of the top 5 most active stocks today(STB, IJC, REE, OGC, PVF) saw price rise. REE showed steady performance in these days despite market fall.

On the Hanoi Stock Exchange, the HNX set fresh all time low with a loss of 1,15 points or 1.81% to 62.45. Trading volume rose 127.3% to 48.65 million shares traded for VND389.6 billion of which 19 million shares worth VND137.5 billion were changed hands in put-through deals.

Of note, 14.3 million SHB shares were changed hands today at VND6,500 each while 3.2 million SCR shares were traded at VND8,000 each.

Market breadth was negative with 54 gainers, 176 losers and 47 flat issues and 116 untraded. Among top 10 market caps, 8 lost and 2 unchanged.

High liquid and speculative shares KLS, VND, PVX, VCG fell sharply today after failing to consolidate at par value.  

PetroVietnam Construction Joint Stock Corporation (PVX) was the most active stocks with 3.5 million shares changed hands, closing down 5.1% to VND9,300 on average.

Kim Long Securities JSC (KLS) came second with 3.2 million shares traded, closing down 3% to VND9,700 on average.

VNDIRECT Securities Corporation (VND) ranked third in the list with 2.4 million shares traded, closing down 4% to VND9,500 on average.