August 1: Vietnam Shares Falls on Rising Petrol Price Hike and Falling Factory Activity
Vietnamese shares closed down further on Wednesday and liquidity stayed low on the news that retail petrol prices rose from today and manufacturing activities fell to lowest level since April 2011.
The benchmark VN Index fell 1.93 points or 0.47 percent to 412.55. Volume rose 8.7 percent to 27.6 million shares worth of VND426.3 billion. Put through trading contributed1.7 million shares worth of VND50.36 billion.
The market breadth was still negative on the primary bourse where 72 stocks advanced, 162 declined, 75 closed unchanged.
The VN30 lost 2.22 points or 0.45 percent, to 489.76. Amongst its 30 members, 3 gained, 21 lost and 6 unchanged.
The market opened in the red with only 0.6 million shares changed hands, caution rose. The morning trading pace was slow as both buyers and sellers were in the waiting mood. Selling rose in late morning session as the news of petrol price hike and contracting HSBC Vietnam Manufacturing PMI data hit the wire. However, buying energy also liven up in the afternoon session, paring the market losses.
Domestic retail prices of petrol were adjusted up by between VND500-VND900/litre from 13:00 today August 1, with approval from both the Ministry of Finance(MoF) and the Ministry of Industry and Trade.
Vietnam’s factory activity shrank deeper in July for 4 straight months highlighted by a fall in the seasonally adjusted HSBC Vietnam Manufacturing PMI(TM) to 43.6, from 46.6 in June. The index has now posted below the neutral 50.0 value for four months in a row, and the latest reading was the lowest since the survey began in April 2011.
Tan Tao Investment – Industry Corporation (ITA) was the most active stock with 1.7 million shares traded, closing flat at VND6,700.
KTB came second with 1.4 million shares changed hands, closing up 5 percent limit to VND8,400.
Sacom Development and Investment Corporation (SAM) ranked third with nearly1.1 million shares traded, closing down 1.2 percent to vND8,000.
On the Hanoi Stock Exchange, the HNX lost 0.49 point or 0.71 percent to 68.7. Trading volume rose 30.9 percent to 31.6 million shares worth VND481.6 billion.
The market breadth was negative where 73 rallied, 127 declined, 75 closed unmoved.
HNX30 lost 1.56 points or 1.19 percent to 129.35.
VNDirect Securities (VND), the most active on the measure with 4.1 million shares changed hands, closed down 1.8 percentto VND10,600.
Kim Long Securities JSC (KLS) came second in volume with 3.6 million units traded, closing down 3 percent to VND9,700 per share.
Sai Gon Thuong Tin Real Estate JSC (SCR) ranked third with 2.4 million shares traded, closing down 2 percent to VND9,800.
Category: Stocks
