New matching order system fails to boost shares (2/7)

[xiuchic]

The HCM City Stock Exchange today began applying a new matching order-market pricing system that allows investors to buy or sell securities at the best price currently available.

"The purpose of market pricing is to provide a tool for investors to place orders, creating flexibility during continuous order matching," Le Hai Tra, the exchange's deputy general director

With fast order matching and high success probability, market pricing will be particularly effective when markets rapidly fluctuate, he said.

However, the move failed to lift shares this morning. On the southern exchange, the VN-Index lost 0.67 per cent to close at 419.53 points.

Losers overwhelmed gainers by 131-58.

The value of trades dropped 20.2 per cent compared to last Friday's session to just VND324.1 billion (US$15.4 million), as trading volume reached just 18.15 million shares.

The VN30, tracking the city's best stocks, retreated 0.8 per cent to 493.61 points.
Among the 30 leading shares, only four managed to grow, including software firm FPT (FPT), financial conglomerate Ocean Group (OGC), Refrigeration Electrial Engineering Corp (REE) and Vinh Son-Song Hinh Hydropower Co (VSH).

On the Ha Noi Stock Exchange, the HNX-Index closed 0.68 per cent lower at 70.59 points.

Trading was sluggish, with just 9.9 million shares worth VND91.8 billion ($4.3 million) changing hands.

The market is due to resume at 1pm

[xiuchic]

Vietnam’s benchmark VN-Index failed to protect rising momentum, declining to open week in bearish sentiment on July 2 as several stocks unexpectedly lost ground at the end of the trading session while liquidity severely drained.

The measure of 302 companies and six mutual funds listed on the Ho Chi Minh City Stock Exchange went down 0.73 percent, or 3.07 points, to close at 419.3 points.

On the benchmark, 55 stocks rose, 194 fell, while 59 remained unchanged.

Trading on the city bourse dropped by 30.7 percent in volume, and 41.8 percent in value over the previous trading session as more than 38.6 million shares changed hands at a total value of VND620.47 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume with 1.96 million shares changing hands.

Ocean Group Joint Stock Company (OGC) followed with 1.17 million shares.

Vinh Son - Song Hinh Hydropower Joint Stock Company (VSH) came third with 1.14 million shares traded.

Mirae Joint Stock Company (KMR) and Tien Len Steel Group Joint Stock Company (TLH) tumbled 5 percent to close at VND3,800, and VND5,700 respectively.

Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) curbed 4.96 percent to close at VND26,800.

Water Supply Sewerage Construction & Investment Joint Stock Company (VSI) edged down 4.94 percent to close at VND7,700.

Long Hau Corporation (LHG) rebuilt 5 percent to close at VND16,800.

Minh Phu Seafood Corporation (MPC) recovered 4.91 percent to close at VND29,900.

Thu Duc Water Supply Joint Stock Company (TDW) resurfaced 4.7 percent to close at VND15,600.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – chopped 5.07 points, or 1.02 percent, to end at 492.66. Among its 30 members, 2 stocks gained, 24 lost, and 4 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north curtailed 1.38 percent, or 0.98 points, to close at 70.09 points with 69 winners, 176 losers, and 51 stocks treading water. Around 24.33 million shares changed hands at a total value of VND223.21 billion.

Meanwhile, the UPCoM-Index of unlisted shares deleted 0.14 percent, or 0.05 points, to close at 36.44 points. A total of 231,318 shares changed hands at VND1.88 billion.