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The benchmark VN Index lost 0.05 point, or 0.01% to end at 410.52. Volume rose 2.9% to 35 million shares worth VND568.3 billion including 9.4 million shares worth VND197 billion changed hands in the put-through deals.
The news that SME suffer liquidity drain has raised concerns over current ratio in other securities companies amid recent black credit market insolvency and bank’s bad debts.
The government has sent the message that it will not let the banking system collapse and assigned related agencies to take actions to assure property market under control.
VN Index opened in the red with 0.7 million shares traded as both buyers and sellers were cautious. Trading was sluggish, sellers lost patient and became quite aggressive during the day. However, the trading pace became more active in the last 15 minutes of ATC session, and late rising demand cleared almost all the loss in the day, VN Index closed at the high of the day and just marginally at neutral line.
Market breadth was negative, among 305 listed firms on HOSE, losers outweighed gainers by 151-79 and 66 stocks unchanged and the rest untraded. As many as 45 stocks fell to the floor while 16 issues hit the ceiling, 5% each side.
Among top 10 market caps, 5 rose (VNM, VPL, STB, MSN, VIC) , 4 fell (CTG, VCB, HAG, BVH) and 1 unchanged (EIB).
Of note, Vietnam Dairy Products JSC. or Vinamilk (VNM) rose 2.86% to VND144,000, extending its gaining streak to 4 days in the row despite the market decline on the news that it will issue bonus shares at 1-for-2 ratio on record date of December 1. VNM is trading at all time high, the only player on the bourse that could stay positive from 2007 peak.
Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank (STB) rose 3.8% on the news that the lender will buy back 107 million treasury shares or 10% stake.
The gain of blue chips did support the market today despite broader market losses.
Military Commercial Joint Stock Bank (MBB) fell to the floor of VND12,300 with 1.2 million shares traded, the lender’s share price has lost 10.9% since debut of VND13,800 on November 1.
Financial shares that include, bank shares and property stocks showed weaknesses today that was a factor towatch.
HAG, SJS fell to the floor with net selling from foreigners. HPG, another blue chips in steel industry, fell to the down limit also.
On the Hanoi Stock Exchange, the HNX Index closed down 0.95 point or 1.44% to 65.02, the lowest level since the introduction of the gauge and extending the losing streak to 6 days in a row.
Trading volume rose 4.2% to 27.5 million shares traded for VND278.7 billion of which 1.6 million shares worth VND27.8 billion were changed hands in put-through deals.
Market breadth was negative with 48 gainers, 185 losers and 58 flat issues and 102 untraded. Among top 10 market caps, 8 lost and 2 unchanged.
The loss was heavily affected by weak performance of ACB and PVS, two biggest market caps on the bourse. ACB broke down VND21,000 threshold with a loss of 2% to VND20,100 on average at the close. PVS lost 2.1% to VND13,900 on average at the close.
Market speculative drivers KLS, VND, VCG, SHN, IDJ were all losers today but their share prices were still higher tha August low despite the index hitting all time low.
VNDIRECT Securities Corporation (VND) was the most active stock with 3.5 million shares traded, closing down 2.9% to VND10,200 on average.
Kim Long Securities JSC (KLS) came second with 3.4 million shares traded, closing down 1.9% to VND10,200 on average.
PetroVietnam Construction Joint Stock Corporation (PVX) ranked third in the list with 1.7 million shares traded, closing down 1.9% to VND10,400 on average.