Stocks fall on pessimism (3/7)

[xiuchic]

Lower petrol prices have failed to raise investor confidence; on the contrary they now seem to fear that the decline is a sign the global economy may go into a downward spiral again, commentators say.

On the HCM City Stock Exchange, the benchmark VN-Index gave up 1.5 per cent to close this morning's session at 413 points on a total value of just over VND444 billion (US$21.1 million).

Decliners overwhelmed advancers by 200-28, of which 71 codes dropped to the floor prices.

Blue chips slumped as 29 of the top 30 shares by market capitalisation and liquidity lost value, driving the VN30 Index down 1.36 per cent to 485.96 points.

Among the top 30 shares, only HCM City Infrastructure Investment Co (CII) bucked the trend, posting a gain of 2.6 per cent to close at VND27,500 ($1.31).

However, Petrovietnam General Services (PET) was the most active code this morning, with nearly 1.4 million shares changing hands, but they plunged to the floor price of VND11,400 ($0.54).

On the Ha Noi Stock Exchange, the HNX-Index fell 1.68 per cent to 68.91 points. Trading was sluggish with only 18.5 million shares, worth VND162 billion ($7.7 million), exchanged.

Losers outnumbered gainers by 176-26.

VNDirect Securities Co (VND), on a total trade of 2.5 million shares, was the most active code in Ha Noi, losing 2.1 per cent to close at VND9,500 ($0.45).
The afternoon session will resume at 1pm

[xiuchic]

Vietnam’s benchmark VN-Index fell steeply to a four-month low on July 3 as investors unexpectedly fled from the market as fuel cut and regulatory cut failed to ease pessimistic sentiment.

The measure of 302 companies and six mutual funds listed on the Ho Chi Minh City Stock Exchange plunged 1.48 percent, or 6.21 points, to close at 413.09 points.

On the benchmark, 40 stocks rose, 229 slumped, while 39 remained unchanged.

Trading on the city bourse rose by 12 percent in volume, and 9 percent in value over the previous trading session as more than 43.27 million shares changed hands at a total value of VND678.71 billion.

Refrigeration Electrical Engineering Corporation (REE) was the most active share in volume with 2.08 million shares changing hands.

Saigon Securities Inc. (SSI) tagged along with 1.91 million shares.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) arrived next with 1.88 million shares traded.

Thien Long Group Corporation (TLG) collapsed 5.03 percent to close at VND18,900.

Duc Long Gia Lai Group Joint Stock Company (DLG) extended its losing streak to five consecutive trading sessions, weakening 5 percent to close at VND7,600.

Other losers on the city bourse included Investment and Trading Of Real Estate Joint Stock Company (ITC), Khang Dien Investment & Trading House Joint Stock Company (KDH), and Petro Vietnam General Services Joint Stock Corporation (PET).


Materials - Petroleum Joint Stock Company (COM) retrieved 4.98 percent to close at VND29,500.

Binh Dinh Minerals Joint Stock Company (BMC) rebounded 4.93 percent to close at VND42,600.

Hydro Power Joint Stock Company – Power No.3 (DRL) advanced for three straight trading sessions, enhancing 4.89 percent to close at VND23,600.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – nosedived 5.71 points, or 1.16 percent, to end at 486.95. Among its 30 members, 2 stocks gained, 24 lost, and 4 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north rejected 1.26 percent, or 0.88 points, to close at 69.21 points with 47 winners, 192 losers, and 57 stocks treading water. Around 37.91 million shares changed hands at a total value of VND340.73 billion.

Meanwhile, the UPCoM-Index of unlisted shares reduced 0.27 percent, or 0.1 points, to close at 36.34 points. A total of 334,900 shares changed hands at VND2.72 billion.