Bourses lacking fire power

Speculative stocks massively turned head to fall on big selling pressures. Mineral stocks Duong Hieu Trading and Mining (DHM), Bac Giang Exploitable Mineral (BGM), Nari Hamico Minerals (KSS) hit the floor, while Tay Bac Minerals Investment (KTB) fell 1.27 per cent.

Low-price real estate stocks strongly dropped as well, among them Vietnam Electricity Construction (VNE) off 2.99 per cent, Becamex Infrastructure Development (IJC) 3.09 per cent, Licogi 16 (LCG) 3.17 per cent, Sao Mai Construction Corp. (ASM) 3.92 per cent while Kinh Bac City Development Share Holding Corp. (KBC) hitting the floor.

On the Hanoi Stock Exchange (HNX), low-price securities shares massively eased back. Au Viet Securities (AVS), Saigon-Hanoi Securities (SHS), Wall Street Securities Company (WSS) sharply shed 5-6 per cent, while major stocks like VNDirect Securities (VND), Kim Long Securities (KLS) also significantly lost.

More than half Ho Chi Minh Stock Exchange (HoSE) declined, with 166 stocks off and 73 up. Decliners also outran advancers 145 to 65 on HNX.

Overall, the VN-Index lost 3.16 points or 0.79 per cent to 398.92 points. HNX-Index dropped 0.73 points or 1.18 per cent to 60.92 points.

Liquidity slightly improved on the main bourse. HoSE’s matching value reached VND546 billion ($26.4 million). Total liquidity was of 45.7 million shares worth VND678.2 billion ($32.7 million).

The figure stayed low at 31.8 million shares worth VND294.5 billion ($14.2 million) on HNX.

Some large-cap stocks still rose amidst the market fall. Ho Chi Minh City Infrastructure Investment (CII) hit the ceiling, Ho Chi Minh City Infrastructure Investment (PGD) gained 2.44 per cent. PetroVietnam Fertiliser and Chemical Corp. (DPM) added 0.74 per cent with more than 1 million shares matched.

Vietinbank (CTG) climbed 1.6 per cent, while Military Bank (MBB) and Vietcombank (VCB) ending flat. Asia Commercial Bank (ACB) were strongly sold today but the stocks closed unchanged.