HNX hits a record low

Ho Chi Minh Stock Exchange’s (HoSE) VN-Index lost 4.2 points or 1.13 per cent to 367.55 points, dragged by the pillar stock Masan Group (MSN) hitting the floor to VND78,200.

Several blue-chips sharply fell, among them financial stocks Saigon Securities Inc. (SSI) dipped 3.14 per cent, Vietinbank (CTG) 2.89 per cent, Bao Viet Holdings (BVH) 3.54 per cent, while real estate stocks Song Da Urban & Industrial Zone Investment and Development (SJS) hit the floor. The European debt crisis continued weighing on global markets. Meanwhile, the domestic macroeconomic picture still saw no significant sign of improvement.

“So far, with the outlook in the home and global economies, there can’t be strong support for the Vietnamese securities market,” said Vietcombank Securities. “At the moment, supportive factors for the market are mainly the technical factors, but they can only generate temporary recovery.”

Some stocks still turned to rise with large buying volumes. Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC) hit the ceiling with 1.2 million shares matched, while Kinhbac City Development Share Holding Corp. (KBC) soared 4.31 per cent.

Pha Lai Thermal Power (PPC) and Japan Vietnam Medical Instrument (JVC) sharply rose with 600,000 units matched each.

Overall, 174 stocks ended off on the southern bourse, compared with 57 advancing. Sacombank’s (STB) put-through volume hit 10 million shares today. The bank had been approved to extend a period of buying back shares by one month to January 16, after buying back more than 46 million shares since last month.

Total put-through volume jumped to 25 million shares worth VND400 billion ($19.3 million), with SSI and Hoang Anh Gia Lai (HAG) the top active stocks. Total trading volume reached 58 million shares worth VND850 billion ($41.1 million).

Hanoi Stock Exchange’s (HNX) HNX-Index lost 0.98 points or 59.64 points further to 59.64 points – a fresh record low. A mass of major stocks like VNDirect Securities (VND), Kim Long Securities (KLS), PetroVietnam Construction (PVX) and Bao Viet Securities (BVS) were strongly dumped.

Decliners amounted to 190 stocks, overwhelming 57 stocks up. However, liquidity significantly rose to 34 million shares worth VND282.32 billion ($13.6 million), led by Kim Long Securities (KLS) and VNDirect Securities (VND) seeing 5.2 million shares and 4 million shares matched, respectively.