July 2: Vietnam Stocks Plunge On Sour Sentiment

Vietnamese stocks kicked off the new week in the red as investors sold shares to cut loss on fear of further selling pressure, market sentiment was weak.

The benchmark VN Index lost 3.07 points or 0.72 percent to 419.3. Volume fell further by 30.76 percent to 38.6 million shares worth of VND620.5 billion. Put through trading contributed 9 million shares worth of VND186.1 billion. We saw 1.9 million IFS shares changed hands at VND4,600 each and 1.75 million TIX shares changed hands at VND21,000 each.

The market breadth was broadly negative on the primary bourse where 55 stocks advanced, 194 declined, 59 closed unchanged.

The VN30 fell 5.07 points or 1.02 percent, to 492.66. Amongst its 30 members, 2 stock rallied, 24 lost and 4 unchanged.

The market opened in the red with 1.1 million shares changed hands, caution rose. The trading pace was very slow as both two sides were reluctant to make first move. The morning session close with draining liquidity before the sellers lost patience and accepted lower prices, sell-off was seen in some stocks. Market sentiment got worse at the close.

Fourth largest listed lender Sacombank (STB), the most active stock on a trade of 2 million shares, closed down 0.9 percent at VND22,000.

Ocean Group JSC. (OGC) ranked the second with 1.18 million units, closing down 0.8 percent to VND12,300.

Vinh Son – Song Hinh Hydropower Jsc. (VSH) came third with 1.1 million shares traded, closing flat at VND10,500.

On the Hanoi Stock Exchange, the HNX lost 0.98 point or 1.38 percent to 70.09. Trading volume fell 10.7 percent to 24.3 million shares worth VND223.2 billion.

The market breadth was negative where 69 rallied, 176 declined, 51 closed unmoved and the rest unchanged.

VNDIRECT Securities Corporation (VND) was the most active on the measure with 3.3 million shares changed hands, losing 4.9 percent to end at VND9,700.

PetroVietnam Construction Joint Stock Corporation (PVX) came second in liquidity on a trade of 2 million units, settling down 3 percent at VND9,400 per share.

Sacomreal (SCR) was in the third place with 1.6 million shares changed hands, closing down 6.9 percent to VND9,500.

Today was the first day that market order was introduced.

http://stoxplus.com/News/83587/1/179/july-2-vietnam-stocks-plunge-on-sour-sentiment.stox

 

Category: Stocks