Oct 27: Vietnam Stocks Close Mixed, Liquidity Falls

The benchmark VN Index added 2.65 points, or 0.64% to end at 414.75. Volume fell 15.54% to 20.4 million shares worth VND326 billion including 3.75 million shares worth VND73.3 billion changed hands in the put-through deals.

There was some news of attention today. Despite official midpoint exchange rate continued to fall by VND20 to all time low of VND20,788 today, trading of dollars on the black market was sluggish as the government is taking tough administrative measures, prices fell accordingly and traders talk showed that some big boys are sellers today on the black market.

This was market rumor but it has some footing as some might have to sell their assets including dollar to compensate for recent investment losses.

Media reported that banks face VND37 trillion loan losses out of total VND76 trillion nonperforming loans. The figure is expected to be higher by the year-end and the real number is believed to be much higher. Most of bad debts are related to property investment.

VN Index opened in the green with nearly 0.8 million shares traded. Buying energy was steady and kept the market stayed in the positive ground through the trading session, but caution remained and both buyers and sellers did not make any significant attempts. VN Index closed at the high but liquidity drained.

Heavy weighs BVH continued to hit the ceiling VND68,500; but MSN; VIC stayed in the neutral line while VPL lost.

Vietnam JS Bank for Industry and Trade or Vietinbank (CTG) continued to outperform the market with a gain of 4.58% to close at VND25,100 on a trade of 388,140 shares. Foreigners bought 310,520 CTG shares out of total 388,140 shares traded today or 80% of the total.

Of note, among property stocks, SJS, NTL outperformed with strong rebounds to the ceiling today.

SSI also led the securities shares posting a gain of 1.76% to VND17,300 after hitting recent lows yesterday. This market leading share performance guided that sideways movement will be the most likely fashion for now.

The market breadth today turned positive, among 303 listed firms on HOSE, gainers outweighed losers by 115-95 and 78 stocks unchanged and the rest untraded. As many as 31 stocks fell to the floor while 23 issues hit the ceiling, 5% each side.

Among top 10 market caps, 4 gained (BVH, CTG, VNM, HAG) , 2 fell (VPL, EIB) and 4 unchanged (STB, MSN, VIC, and VCB).

Hoang Quan Consulting – Trading – Service Real Estate Corporation (HQC) was the most active stock with 1.9 million shares traded, closing down 1% to VND9,800.

Becamex Infrastructure Development JSC. (IJC) was in the second place with 1 million shares traded, closing up 4.9% to VND10,700.

Pha Lai Thermal Power JSC. (PPC) ranked third with 0.8 million shares traded, closing up 2.9% to VND6,700.

Sacom Development and Investment Corporation (SAM) stayed in the fourth place with 0.7 million shares traded, closing down 1.6% to VND6,000.

Tan Tao Investment – Industry Corporation (ITA) was the last in the most active list with 0.6 million shares traded, closing down 1.08% to VND9,200.

On the Hanoi Stock Exchange, the HNX bucked trend to close down 0.19 point or 0.27% to 67.78. Trading volume stayed flat with 21.3 million shares traded for VND202.3 billion of which 4.8 million shares worth VND40 billion were changed hands in put-through deals.

Market breadth turned positive with 128 gainers, 83 losers and 91 flat issues and 91 untraded. Among top 10 market caps, 4 gained, 2 lost and 4 unchanged.

Kim Long Securities JSC (KLS) was the most active stock with 1.5 million shares traded, closing up 1% to VND10,100 on average.  

VNDIRECT Securities Corporation (VND) came second with 1.5 million shares traded, closing up 1% to VND10,300 on average.

Hanoi Investment General Corporation (SHN) ranked third in the list with 1 million shares traded, closing up 1% to VND9,500 on average.