Vietnamese stocks kicked off the new week with a sharp fall as investors cut losses fearing a further downside move, liquidity rose on heavy put-through deals.
The benchmark VN Index lost 3.05 points or 0.71 percent to 424.12. Volume rose 21.4 percent to 62.8 million shares worth of VND1trillion. Put through trading contributed 15.8 million shares worth of VND369.24 billion.
We saw 12 million OGC shares changed hands at the floor price of VND12,200 each and 1.38 million VIC shares changed hands at the reference price of VND81,000 each.
The market breadth was broadly negative on the primary bourse where 36 stocks advanced, 233 declined, 38 closed unchanged.
The VN30 lost 2.25 points or 0.45 percent, to 498.09. Amongst its 30 members, 2 stock rallied, 23 lost and 5 unchanged.
The market opened in the red with 0.8 million shares changed hands, caution remained high. The trading pace was still slow, some buying efforts were seen after the market open, they were not strong enough to keep the market heat. Selling pressure was still high and market went back to the negative ground. Though the market closed off the low, the loss was heavy.
Tan Tao Investment – Industry Corporation (ITA), the most active stock on a trade of 2.35 million shares, shed 2.78 percent to end at VND9,000.
Sao Mai Construction Corporation (ASM), the second most traded issue on the gauge with 1.8 million units, dived 4.23 percent to finish at VND13,600.
Saigon Securities Inc (SSI) retreated 1.83 percent to finish at VND21,400 on a trade of 1.6 million shares – the third most active.
On the Hanoi Stock Exchange, the HNX fell 1.51 points or 2.06 percent to 71.8. Trading volume rose 0.7 percent to 42.5 million shares worth VND421.9 billion.
The market breadth was negative where 41 rallied, 202 declined, 45 closed unmoved and the rest unchanged.
Sai Gon Thuong Tin Real Estate Joint Stock Company (SCR), the most active on the measure with 4 million shares changed hands, tumbled 6 percent to end at VND12,600.
PetroVietnam Construction (PVX), coming second in liquidity on a trade of 3.5 million units, retreated 3 percent to settle at VND9,700 per share.
VNDirect Securities (VND) slipped 4.4 percent to finish at VND10,900 on a trade of 3.2 million shares – the third most active.