Figures go from bad to worse

August 01, 2012 | 15:00

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The market fell throughout Wednesday on bad macroeconomic news.

Top fuel distributor Petrolimex raised its petrol prices by up to 4.3 per cent, after the government allowed local petrol and other oil products to set their own selling prices.

The benchmark VN-Index slipped 1.93 points or 0.47 per cent to 412.55 points. Meanwhile, HNX-Index ended down 0.49 points or 0.71 per cent to 68.7 per cent on negative economic sentiment.

Matching values stayed at VND600 billion ($29 million) for the two bourses.

Put-through value slightly improved on Hanoi Stock Exchange (HNX), raising total liquidity to 31.6 million shares worth VND481.6 billion ($23.2 million). Meanwhile, trading volume was of 27.6 million shares worth VND426.3 billion ($20.6 million) on Ho Chi Minh Stock Exchange (HoSE).

Transaction focused on a number of speculative stocks. Tan Tao Investment Industry Corp. (ITA) outperformed the market with just 1.7 million shares matched, ending flat. Tay Bac Minerals Investment (KTB) hit the ceiling with 1.4 million shares matched.

Ocean Group (OGC) gained 1.59 per cent. Some real estate and construction stocks like Transport Engineering Construction & Business Investment JSC 584 (NTB), Vietnam Mechanisation Electrification and Construction (MCG), DIC Investment and Trading (DIC) advanced.

Most other active stocks ended down, among them financial stocks like Vietcombank (VCB), Vietinbank (CTG), Military Bank (MBB) lost around 1 per cent each. Some 142 stocks declined on the southern bourse, compared with just 72 advancing.

Leading stocks also largely lost on HNX. VNDirect Securities (VND), Kim Long Securities (KLS), Bao Viet Securities (BVS), Habubank (HBB) slipped 2-3 per cent. Speculative stocks like Ha Noi Investment General Corp. (SHN), Thai Hoa Viet Nam (THV) sharply fell.

VNDirect Securities (VND) outperformed the market with more than 4 million shares matched. KLS, Saigon Commercial Real Estate (SCR), PetroVietnam Construction (PVX) followed with 1-3 million units matched each.

Some 127 stocks were down on the northern bourse, compared with 73 advancing.