Liquidity high as shares tumble

Dec 21st at 10:43

21-12-2013 10:43:23+07:00

Accelerated selling in the afternoon dragged down the benchmark indices on the HCM City Exchange, even as liquidity climbed to a new high yesterday.

Meanwhile, the VN-Index on the southern bourse tumbled 0.36 per cent to 504.45 points.

The total trading value was more than double that of Thursday, reaching VND3.039 trillion (US$144.7 million) on the exchange of 142.42 million shares.

Red colouring spread throughout the electric board, with 120 stocks losing, in comparison to 96 gainers.

Also, the VN30-Index, tracking the southern city's 30 largest shares by capitalisation and liquidity, shed 0.86 per cent to 560.68 points.

Of those, only Masan Group (MSN) managed to increase VND2,000 ($0.095) per share to VND87,000 ($4.1) thanks to the buying by foreign investors.

Nineteen stocks declined yesterday, including big names such as insurance company Bao Viet Group (BVH), Hoang Anh Gia Lai (HAG), Hoa Phat Group (HPG), Hoa Sen Group (HSG), Kinh Do (KDC), PetroVietnam Drilling (PVD), PetroVietnam Transportation (PVT) and Vietcombank (VCB).

Notably, real estate giant Vingroup (VIC) lost VND4,000 ($0.19) per share to VND66,000 ($3.14).

Selling jumped during the final minutes of the afternoon's session, as transactions boomed, pushing liquidity to a new high.

The northern bourse also witnessed a record high in liquidity yesterday, with 91 million shares traded with a total value of VND615.14 billion ($29.29 million), 28 per cent and 7 per cent higher than Thursday, respectively.

The HNX-Index lost 0.18 per cent to 67.5 points and the HNXFF-Index, composed of stocks with a minimum free float rate of 5 per cent, decreased 0.31 per cent to 67.5 points.

The HNX30-Index, composed of the bourse's largest shares, shed 0.78 per cent to 128.03 per cent.

Yesterday was the last day for the two exchange-traded funds (ETF) to restructure their investment lists. The new lists would become active next Tuesday.

According to FPT Securities, funds reduced the holdings of many stocks, so the impact on the market was minor.

Additionally, stocks of real estate sectors were active yesterday, showing that speculative money was available in the market and shifted from sector to sector to capture short-term profits, officials at FPT Securities said.

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