Shares stall as trades remain sluggish
Shares stall as trades remain sluggish
Shares managed to gain on the HCM City Stock Exchange November 14 but retreated in Ha Noi as trading volumes remained depressed.
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| Source: VietstockFinance |
In HCM City, the VN-Index closed up 0.65 per cent to 387.71 points on improved market sentiment, although nearly 40 per cent of codes saw losses.Morning gains were largely erased during afternoon trades.
The value of trades was virtually unchanged from Tuesday's level at VND320.8 billion (US$15.2 million), while volume reached only 24 million shares.
Among the 30 leading shares tracked by the VN30-Index, advancers and decliners were split almost evenly, 12-11.
Vinamilk (VNM) soared to its ceiling price, helping lift the VN30 overall by 0.69 per cent to 458.21.
On the Ha Noi Stock Exchange, the HNX-Index fell to 52.30, 0.17 per cent below the prior day's close. Market value fell by half to just VND118 billion ($5.6 million) on a volume of 18.9 million shares.
The HNX30, which tracks the northern bourse's 30 leading shares by capitalisation and liquidity, shed 0.2 per cent to close at 95.68 points.
Gains failed to materialise for Sai Gon-Ha Noi Bank (SHB), real estate firm Sacomreal (SCR) and construction giant Vinaconex (VCG) – the most active stocks in Ha Noi during the previous session.
The market needed a boost in liquidity before it would recover, but this was not forthcoming in recent sessions, FPT Securities Co analysts wrote yesterday.
Foreign investors were net buyers in Ha Noi yesterday, picking up shares worth a net of VND4 billion ($190,400). However, they shifted to net sellers in HCM City by a margin of nearly VND11 billion ($523,800).
Stocks favoured by foreign buyers included PetroVietnam Gas (GAS), Kinh Do Confectionery (KDC), Vietcombank (VCB) and sugar producer Bourbon Tay Ninh. Meanwhile, foreign investors unloaded shares of Military Bank (MBB), real estate developer Hoang Anh Gia Lai (HAG), Sacombank (STB) and Vinh Son-Song Hinh Hydropower (VSH)
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