Stock plunge on both exchange on declining investor confidence (22/6)

[thongtinbds]

Vietnam’s benchmark VN-Index extended losses to second day to close week in red on June 22 as support tumbled due to negative news from global market.

Shares of 303 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange sank 0.92 percent, or 3.97 points, to close at 427.17 points.

Among the index members, 63 were gainers, 172 losers, while 73 stocks remained unchanged.

Trading on the city bourse rose by 18 per cent in volume, and nearly 10 per cent in value over the previous trading session as more than 51.72 million shares changed hands at a total value of VND755.91 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) took the lead in the race for most active share in volume spot with 2.33 million shares changing hands.

Sacom Development & Investment Corporation (SAM) ran after with 2.16 million shares.

Duc Long Gia Lai Group Joint Stock Company (DLG) tagged along with 2.07 million shares traded.

Sea & Air Freight International (SFI) ditched 5.81 percent to close at VND16,200.

MT Gas Joint Stock Company (MTG) lost 5 percent to close at VND3,800.

Binh Thuan Mineral Industry Joint Stock Company (KSA) undermined 4.76 percent to close at VND14,000.

Ben Tre Forestry & Aqua Product Import Export Joint Stock Company (FBT) and NBB Investment Corporation (NBB) restored 5 percent to close at VND12,600, and VND33,600 respectively.

Tan Binh Import Export Joint Stock Corporation (TIX) strengthened 4.88 percent to close at VND21,500.

Do Thanh Technology Corporation (DTT) edged up 4.82 percent to close at VND8,700.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – fell 4.37 points, or 0.87 percent, to end at 500.34. Among its 30 members, 5 stocks advanced, 21 retreated, and 4 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north moved backward 0.8 percent, or 0.59 points, to close at 73.31 points with 46 winners, 182 losers, and 65 stocks treading water. Around 42.18 million shares changed hands at a total value of VND431.32 billion.

Meanwhile, the UPCoM-Index of unlisted shares erased 0.52 percent, or 0.19 points, to close at 36.24 points. A total of 373,440 shares changed hands at VND3.59 billion

View more random threads:

• Market experiences spectacular rebound
• Meagre trade continues pulling indices down
• MIM: Alert on MIM removed
• TVB: Notice of record date for Dividend payment in cash
• UPC: Notice of record date for Dividend payment in cash
• Big bucks for brokers in Vietnam
• PPP: Notice of record date for Dividend payment
• KMT: Notice of record date for a ballot and dividend payment in cash
• Sober traders hold market in check
• Phu Thinh-Nha Be Garment to halt production, sell shares

[ngocbds]

Information of lower petrol prices yesterday afternoon again failed to boost investors' confidence this morning and stocks continued to fall across the two national trading boards.
On the HCM City Stock Exchange, the benchmark VN-Index lost another 0.46 per cent to close the morning's session at 429.17 points on a sluggish value of nearly VND472 billion (US$22.5 million).

Blue chips slumped along with a 0.43 per cent fall of the VN30 Index, computing performance of the top 30 shares by market value and liquidity, which stood at 502.54 points by the end of this morning.

Amongst the top 30 shares, only Phu My Fertiliser (DPM) rose 1.2 per cent, Vietcombank (VCB) and Sacombank (STB) both increased 0.3 per cent. Others closed down or remained unchanged.

Decliners outnumbered advancers by 145-36 overall.

Furniture maker Duc Long Gia Lai Group (DLG) again surprised the market by becoming the most active code in the HCM City market with over 1.8 million shares changing hands, but its share price dropped 2.2 per cent to a close of VND9,000 ($0.43) a share.

On the Ha Noi Stock Exchange, the HNX-Index also gave up another 0.47 per cent to finish this morning at 73.55 points as losers overwhelmed gainers by 144-38.

However, trading value jumped 73 per cent over yesterday morning's level to nearly VND258 billion ($7.1 million) on a total volume of 24.7 million shares.

VNDirect Securities Co (VND) rose to be the most active code this morning with 3 million shares traded, sinking 2.6 per cent to VND11,400 ($0.54) a share.

The afternoon trading session will re-open at 1pm

[thongtinbds]

News of lower petrol prices released on Thursday afternoon again failed to boost shares in yesterday's trading, with stock prices continuing to fall on both of the nation's trading boards.
While share prices had increased substantially since the beginning of the year, profit prospects of most listed companies had dimmed, making the market less attractive to short-term cash flows, wrote analysts of MB Securities Co in a research note.

A number of stock brokerages have recently lowered the interest rates they charge to clients on loans to finance margin trading from an average of 20-22 per cent per year to 18-20 per cent, but this seems to have done little to whet risk appetites.

"We appreciate this move by securities companies which will help encourage further investment in the market," the MB Securities analysts said. "We believe that margin lending rates will continue to drop in the near future, along with interest rates charged by banks, due to general declining trend of inflation."

On the HCM City Stock Exchange yesterday, the VN-Index lost another 0.92 per cent to close at 427.17 points. The value of trades improved slightly over Thursday's pace, reaching VND756 billion (US$36 million) on a volume of 51.7 million shares.
The VN30 Index, which tracks the 30 leading shares by market capitalisation and liquidity, also slid by 0.87 per cent to 500.34, with nearly three quarters of the shares in this group giving up value.

HCM City Infrastructure Development (CII) and financial conglomerate Ocean Group (OGC) dropped to the floor prices while food processor Masan Group (MSN) sank by 3.9 per cent. On the other end of spectrum, Phu My Fertilisers (DPM) and Sacombank (STB) were among the few gainers but posted increases of a modest 0.3-0.5 per cent.

Sacombank (STB) was also the most-active share on the HCM City market yesterday with 2.3 million traded, closing up to VND22,400 per share.
On the Ha Noi Stock Exchange, the HNX-Index also decreased by 0.8 per cent to 73.31 points on a modest value of only VND431.3 billion ($20.5 million).

PetroVietnam Construction (PVX) again claimed the position as most-active code on the Ha Noi bourse, with trades of 4.5 million shares, but PVX sank by nearly 2 per cent to settle yesterday at VND10,000 a share.

Foreign investors increased their buys on both exchanges yesterday, picking up a combined net of VND94 billion ($4.5 million) worth of shares.