July 9: Vietnam Stocks Plunge on Massive Selling

11-Jul-2012 Intellasia | StoxPlus | 7:01 AM

Vietnamese stocks kicked off the new week in redness as investors sold shares aggressively to cut loss fearing the downswing will last longer.

The benchmark VN Index lost 7.32 points or 1.76 percent to 408.12. Volume fell by 26.22 percent to 31.96 million shares worth of VND444.5 billion. Put through trading contributed 3.5 million shares worth of VND66.41 billion.

The market breadth was negative on the primary bourse where 43 stocks advanced, 223 declined, 42 closed unchanged.

The VN30 lost 8.15 points or 1.66 percent, to 482.49. Amongst its 30 members, 28 lost and 2 unchanged.

The market opened in the red with 1.1 million shares changed hands. The trading pace was very slow as caution rose. Selling pressure was seen from early trade and got tenser as market progressed. The index had nowhere to go but the south, closing at the low of the day.

Ninh Van Bay Travel Real Estate JSC (NVT) was the most active stock on the bourse today with 1.9 million shares traded, closing down 4.6 percent to VND4,200.

Tan Tao Investment – Industry Corporation (ITA) came second in volume with 1.3 million shares traded, closing down 3 percent to VND6,500.

Saigon Securities Inc. (SSI) ranked third with 1.2 million shares changed hands, closing down 3.5 percent to VND19,200.

On the Hanoi Stock Exchange, the HNX lost 1.47 points or 2.11 percent to 68.2. Trading volume fell 21.4 percent to 27.6 million shares worth VND261.7 billion.

The market breadth was negative where 53 rallied, 191 declined, 37closed unmoved and the rest unchanged.

HNX30, which was launched today, lost 4.73 points or 3.58 percent to 127.34.

VNDirect Securities (VND), the most active on the measure with 3.2 million shares changed hands, closing down 5.1 percent to end at VND9,300.

PetroVietnam Construction Joint Stock Corporation (PVX) come second in volume on a trade of 2.4 million units, closing down 4.3 percent to settle at VND8,900 per share.

Hanoi-based lender Habubank (HBB) was in the third place with 1.5 million shares traded, closing down 4.4 percent to VND4,400.

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