May 3: Vietnam Stocks Extend Loss on Broad-Based Profit Taking

03-May-2012 Intellasia | StoxPlus | 1:46 PM Print This Post

Vietnamese stocks continued to post losses in the morning session as sellers tried to lock profit, however, buying interest at low prices were steady, boosting the market liquidity

The benchmark VN Index lost 6.53 points or 1.38 percent to 465.93. Volume rose to 78.1 million shares worth of VND1.14 trillion as bottom fishing was active. Put-through trading contributed 1.4 million shares worth VND32.84 billion.

The VN30 Index declined 6.1 points, or 1.13 percent, to 533.62.

The market opened in the red with 5.4 million shares changed hands. The trading was slow at first as both sides raised cautious. Some buying energy in early order-matching session helped pared the market loss and sent the index to the positive ground briefly. However, selling pressure at high prices were strong, and the bears had a higher hands on the table this morning, the index came back to the negative territory and shrank further. The positive thing here was that volume stayed high and the money stays with the market.

VNE was the most active stock with 5.9 million shares, resuming its ceiling performance today. ITA and KSS followed with 2.1 million shares traded each.

SSI was the only gainer among securities shares; EIB was only banking stock which was not in the negative ground..

Property stocks were losers in general except for some like DIC, D2D which posted gains.

Rubber shares were solid gainers, demand was good. FPT outperformed for a second day after rebounded from VND59,000.

On the Hanoi Stock Exchange, the HNX index closed down 0.79 point or 1 percent to 78.56. Trading volume rose to 63.7 million shares worth VND602.74 billion.

HBB continued to be the top active player with 14.1million shares changed hands, closing at the floor level, PVX came second with 3.6 million shares traded, closing 2 price lines up and SCR took the third position with 3.3 million shares traded, closing down at VND11,000 each.


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