July 3: Vietnam Stocks Plunge Further on Massive Selling
Vietnamese stocks continued to fall on massive selling concerning over Q2 earnings and economic growth outlook.
The benchmark VN Index lost 6.21 points or 1.48 percent to 413.09. Volume rose by 12 percent to 43.3 million shares worth of VND678.7 billion. Put through trading contributed 3.7 million shares worth of VND138.2 billion. We saw 1 million VIC shares changed hands at VND81,000 each.
The market breadth was broadly negative on the primary bourse where 40 stocks advanced, 229 declined, 39 closed unchanged.
The VN30 fell 5.71 points or 1.16 percent, to 486.95. Amongst its 30 members, 2 stock rallied, 24 lost and 4 unchanged.
The market opened in the red with 1 million shares changed hands, caution rose. The trading pace was very slow as both two sides were reluctant to make first move, however, the impact of petrol price cut released late yesterday could not support the market any longer, sellers became more aggressive and sold off shares. The final 15 ATC minutes some bottom fishing efforts pared the market losses.
Refrigeration Electrical Engineering Corporation (REE) was the most active stock on a trade of 2 million shares, closing flat at VN15,800.
Saigon Securities Inc. (SSI) ranked second with 1.9 million units, closing down 4 percent to VND19,300.
Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank (STB) came third with 1.9 million shares traded, closing flat at VND22,000.
On the Hanoi Stock Exchange, the HNX lost 0.88 point or 1.26 percent to 69.21. Trading volume rose 55.8 percent to 37.9 million shares worth VND340.73 billion.
The market breadth was negative where 47 rallied, 192 declined, 57 closed unmoved and the rest unchanged.
VNDIRECT Securities Corporation (VND) was the most active on the measure with 4.4 million shares changed hands, losing 1 percent to end at VND9,600.
PetroVietnam Construction Joint Stock Corporation (PVX) came second in liquidity on a trade of 3.6 million units, settling down 2.2 percent at VND9,200 per share.
Sacomreal (SCR) was in the third place with 2.8 million shares changed hands, closing down 5.3 percent to VND9,100.
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Category: Stocks
