Nov 24: Vietnam Stocks Resume Losing Track on Caution

The benchmark VN Index lost 6.79 points, or 1.74% to end at 381.7.8 Volume fell 11.8% to 29.2 million shares worth VND439.2 billion including 9.4 million shares worth VND157.3 billion changed hands in the put-through deals.

Put-through deals continued to be very active. We saw 7.45 million STB shares changed hands today of which foreigners were net sellers of 3.05 million shares for VND46.95 billion.

There was not much market driving news, November CPI came out at 0.39%, higher than October figure of 0.36% but the average 11 month CPI was already at 18.62%, higher than the full year target of 18% set by the government.

VN Index opened in the red with 0.5 million shares traded indicating high caution from the beginning. Some buying in early order-matching session sent the index briefly to the positive ground, but the bulls could not gather enough steam to keep the market heat. Sellers were right there to time best exit. Market fell back to the negative ground and closed at the low of the day as selling pressure rose in late trading.

Market breadth turned negative, among 306 listed firms on HOSE, losers outweighed gainers by 171-59 and 55 stocks unchanged and the rest untraded. As many as 16 stocks hit ceiling while 70 issues fell to the floor, 5% each side.

Among top 10 market caps, 8 fell (MSN, BVH, VPL, STB, VNM, VIC, HAG, CTG,) , 1 rose (EIB) and 1 unchanged (VCB).

Blue chips were weaker than the broad market, sending the index further down. However, top active stocks were stronger.

Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank (STB) led the market in volume with 2.5 millions shares traded, closing down 2% to VND4,800.

Hung Vuong Corporation (HVG) was second most active stock with 0.8 million shares trade, closing up 0.5% to VND20,400.

Hoa Phat Group JSC. (HPG) ranked third with 0.7 million shares traded, closing up 3.1% to VND20,300.

Hoang Quan Consulting – Trading – Service Real Estate Corporation (HQC) came forth with 0.7 million shares traded, closing up 3.2% to VND6,500.

Hoang Anh Gia Lai Corporation (HAG) was in the fifth place with 0.6 million shares traded, closing up 2.2% to VND22,300.

On the Hanoi Stock Exchange, the HNX closed down 0.83 point or 1.33% to 61.27. Trading volume fell 19.7% to 19.4 million shares traded for VND175.8 billion of which 2.2 million shares worth VND25.6 billion were changed hands in put-through deals.

Market breadth was negative with 67 gainers, 160 losers and 54 flat issues and 112 untraded. Among top 10 market caps, 1 gained, 6 lost and 3 unchanged.

High liquid and speculative shares KLS, VND, PVX, VCG were all losers.

VNDIRECT Securities Corporation (VND) was the most active stock with 2.3 million shares changed hands, closing down 1% to VND9,900.

Kim Long Securities JSC (KLS) came second with 1.4 million shares traded, closing down 1% to VND9,900 on average.

PetroVietnam Power Land Joint Stock Company (PVX) ranked third in the list with 1.2 million shares traded, closing down 2.2% to VND8,900 on average.