Nov 3: Vietnam Stocks Close Down as Demand Falls

The benchmark VN Index lost 6.03 points, or 1.45% to end at 407.79. Volume fell 29.6% to 31.6 million shares worth VND490.9 billion including 7.1 million shares worth VND145 billion changed hands in the put-through deals.

VN Index opened in the red with 4.4 million shares traded, indicating selling pressure rose. Buying energy fell, trading slowed down. Market tried to par some early loss but failed and VN Index close near the low of the day on weakening demand, liquidity fell.

There was a doldrums of market moving news, the fall indicated speculative outflows.

Market breadth was negative, among 304 listed firms on HOSE, losers outweighed gainers by 183-50 and 50 stocks unchanged and the rest untraded. As many as 61 stocks fell to the floor while 13 issues hit the ceiling, 5% each side.

Among top 10 market caps, 7 fell (BVH, VIC, HAG, VPL, STB, MSN, VCB) , 1 gained ( VNM ) and 2 unchanged (CTG, EIB).

Becamex Infrastructure Development JSC. (IJC) was the most active stock with 1.3 million shares traded, closing down 1.8% to VND10,700.

Military Commercial Joint Stock Bank (MBB) was in the second place with 1.3 million shares traded, closing down 4.4% to VND13,200.

Refrigeration Electrical Engineering Corporation (REE) ranked third with 1 million shares traded, closing down 0.9% to VND11,400.

Hoang Quan Consulting – Trading – Service Real Estate Corporation (HQC) stayed in the fourth place with 0.9 million shares traded, closing down 4% to VND9,600.

Ocean Group JSC. (OGC) was the last in the most active list with 0.9 million shares traded, closing down 4.7% to VND12,100.

Of note, foreigners bought 4.2 million MBB shares in the put-through trades, mostly at the ceiling price or 10% premium to market price today.

On the Hanoi Stock Exchange, the HNX closed down 1.38 points or 2.01% to 67.14. Trading volume fell 2.2% to 36.4 million shares traded for VND382.9 billion of which 5.9 million shares worth VND86.7 billion were changed hands in put-through deals.

Of note, 2 million SHB shares were changed hands for VND13 billion, or 4.5% premium to market close.

Market breadth was negative with 34 gainers, 215 losers and 36 flat issues and 108 untraded. Among top 10 market caps, 9 lost and 1 unchanged.

Kim Long Securities JSC (KLS) was the most active stock with 3.5 million shares traded, closing down 4.5% to VND10,600 on average.  

VNDIRECT Securities Corporation (VND) came second with 3.5 million shares traded, closing down 5.2% to VND10,900 on average.

PetroVietnam Power Land Joint Stock Company ranked third in the list with 3.2 million shares traded, closing down 5.4% to VND5,300 on average.