April 6: Vietnam Stocks Close Mixed on Late Selling

Vietnamese stocks closed mixed today as sellers became more aggressive in late trading sending HNX Index down while buying into selective blue chips bouyed VN Index, volume rose.

The benchmark VN Index gained 2.51 points, or 0.56 percent to end at 447.44 today. Volume soared 48 percent to 91.2 million shares worth of VND1.44 trillion, including 21.4 million shares worth of VND465.57 billion changed hands in the put-through deals.

The index climbed 1.5 percent this week and 27.4 percent in the year to date on rising volume.

VN30 rose 4.16 points or 0.82. to 511.51 today. Out of the 30 members, 21 gained, 3 unchanged and 6 fell. Volume rose to 29.5 million worth of VND556.56 billion.

We saw 18.48 million STB shares changed hands in the put-through deals at the flat line; foreigners were the sellers of the deal.

We also saw 0.97 million CTI shares changed hands at the ceiling price and 0.5 million ITA shares changed hands at the floor price.

Market breadth was positive, among 306 listed firms on STC, gainers outweighed losers by 127-to-112; 71 stocks unchanged and 12 stocks untraded.

VN Index opened in the green with 3 million shares traded. Trading pace was still slow at the beginning as investors were cautious, however, buying interest into selective shares inspired more investors to enter, market went up with more stocks hit daily limit. However, profit taking pressure was seen in late morning session and extended into the afternoon, paring some gain and market closed off the high.

Property stocks were strong, HAG, ITC,NTL, LCG, HQC were among ceiling gainers. Banking shares were mixed, CTG, MBB, VCB fell while EIB, STB gained.Broker shares gained but far off the high, SBS limited up again after recent correction. Other blue chips were mixed, PVF, REE, BVH gained, MSN unchanged, DPM, HPG, VNM fell.

Ocean Group Joint Stock Company (OGC), the most active stock on a trade of 4.5 million shares, surged 4.7 percent to end at VND13,400.

Third largest listed lender Eximbank (EIB), coming second in liquidity with 3.3 million shares changed hands, edged up 0.56 percent to settle at VND18,000.

Becamex Infrastructure Development Joint Stock Company (IJC) went up 2.61 percent to finish at VND11,800 on a trade of 2.9 million units – the third most active

Today Madam Nhung, deputy head of the monetary policy department under the central bank said in workshop today that deposit ceiling cap will be adjusted down to 12 percent “in the time to come” and to 10-11 percent by the end of this year. However, she did not clarify the timeline for the rate cut.

The media also mentioned the reapplication of 80 percent LDR cap with changes in the definition of deposits. The SBV is also expected to cut risk weighting of loans for securities and property investments to 150 percent from current 250 percent.

On the Hanoi Stock Exchange, the HNX-Index lost 0.13 points, or 0.17 percent, to end at 74.69. The market volume was up 10 percent from a day earlier to 89.3 million shares and the value rose 8 percent to VND845.9 billion.

Market breadth was negative, 100 rallied, 139 tumbled, 83 closed unmoved, and 74 were untraded..

Hanoi-based lender Habubank (HBB), the most active on the measure with 10 million shares changed hands, slipped 2.82 percent to settle at VND6,900.

VNDirect Securities (VND), coming second in liquidity on a trade of 8.2 million units, climbed 2.54 percent to end at VND12,100 per share.

PetroVietnam Construction (PVX) edged up 0.88 percent to finish at VND11,400 on a trade of 8 million shares – the third most active.

 

Category: Stocks