Nov 15: Vietnam Stocks Close Mixed, Caution Remains

Market confidence was still very fragile despite some attractive valuation, said traders in Hanoi.  

The benchmark VN Index lost 3.87 points, or 0.99%, to end at 387.87, the lowest level since August 17.  The benchmark lost 22.7 points or 5.53% in the seven-day streak and stayed just 1% above the 30-month low in mid-August.

Volume stayed flat with 37.1 million shares worth VND877.7 billion including 10.1 million shares worth VND510.95 billion changed hands in the put-through deals. Of note, 3 million HAG shares and 3 million MSN shares were changed hands in the put-through today.

Active put-through trading showed that big boys are taking aggressive measures.

VN Index opened in the red with 1.1 million shares traded, sellers became more aggressive, sending the prices lower and lower, more floor actions were seen in the order-matching session. However, buyers came back in late trading, paring some losses.

Market breadth was negative, among 305 listed firms on HOSE, losers outweighed gainers by 147-65 and 67 stocks unchanged and the rest untraded. As many as 60 stocks fell to the floor while 19 issues hit the ceiling, 5% each side.

Among top 10 market caps, 2 rose (BVH and CTG), 5 fell (HAG, VNM, MSN, VPL, VIC) and 3 unchanged (VCB, STB, EIB).

Blue chips were stronger than the market, of which, banks’ shares were strong, Vietinbank (CTG) gained while others stayed unchanged.

Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank (STB) closed flat at VND13,900 with 0.4 million shares traded. EIB closed unchanged at VND14,400 with 1.05 million shares changed hands and Vietcombank (VCB) closed flat at VND23,000 with 0.63 million shares traded.

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

Securities stocks were also losers.  Saigon Securities Inc. (SSI) closed down 1.2% to VND16,100. SBS continued to hit floor.

Hoang Quan Consulting Trading Service Real Estate Corporation (HQC), the most active stock with 3.77 million shares changed hands, shed 3.95% to end at VND7,300.

Becamex Infrastructure Development Joint Stock Company (IJC), the second most active on a trade of 1.09 million shares, rallied 4.44% to settle at VND9,400.

Refrigeration Electrical Engineering Corporation (REE) closed unmoved at VND11,200 on a trade of 1.07 million shares – the third most active.

On the Hanoi Stock Exchange, the HNX rebounded from all time low with a gain of 0.61 point or 0.97% to 63.06. Trading volume fell 37% to 30.7 million shares traded for VND278.8 billion of which 8.1 million shares worth VND73.4 billion were changed hands in put-through deals.

Market breadth was negative with 96 gainers, 105 losers and 73 flat issues and 119 untraded. Among top 10 market caps, 7 gained, 1 lost and 2 unchanged.

Strong performance of blue chips on this bourse helped the market close in the green today.

High liquid and speculative shares KLS, VND, PVX, VCG were all gainers today as bargain hunters came back.

VNDirect Securities (VND), the most active on the measure with 2.5 million shares changed hands, climbed 1.05% to end at VND9,600.

PetroVietnam Construction (PVX), coming second in liquidity on a trade of 2.2 million units, rose 1.1% to settle at VND9,400 per share.

Kim Long Securities (KLS) leaped 1.03% to end at VND9,800 on a trade of 2.2 million shares – the third most active.