HNX plummets to historic low

Hanoi’s consumer price index data for May this morning was up 1.76 per cent against April today. Although the growth was not higher than previous expectations among market’s participants, the market downward downbeat mood was not improved.

The HNX-Index ended 1.26 points (1.61 per cent) lower against yesterday. The northern bourse had continued its downward trend continuously for nine consecutive sessions.

Also, the Ho Chi Minh Stock Exchange (HoSE) VN-Index sharply dipped 11.98 points or 2.69 per cent to 432.87 points – the lowest level within recent 10 months.

Up to three pillars stocks hit the floor on the southern bourse, comprising Vinamilk (VNM), Masan Group (MSN) and BaoViet Holding (BVH). Hoa Phat Group (HPG) and PetroVietnam Finance (PVF) hit the floor.

Almost all blue-chips ended lower, of which Saigon Securities Inc. (SSI) was off 3.14 per cent, Vietcombank (VCB) 4.15 per cent and Vietinbank (CTG) 2.43 per cent.

In the contrast, Vinacafe Bien Hoa hit the ceiling for the eight straight session, climbing to VND72,000 today.

Some 166 stocks were down, while 48 gaining and 74 unchanged on the southern bourse.

On the northern bourse major stocks largely skidded, with PetroVietnam Construction (PVX), PetroVietnam Northern Gas (PVG), Vietnam Construction and Import-Export JSC (VCG) all lost some 4 per cent.

Securities company shares largely dropped, among them VnDirect Securities (VND) and Saigon-Hanoi Securities (SHS), PetroVietnam Securities Inc. (PSI) all off more than 4 per cent, Bao Viet Securities 2.52 per cent and Kim Long Securities 1.08 per cent.

Wall Street Securities (WSS) slid 5.45 per cent to as low as VND5,200.

Habubank (HBB) and Asia Commercial Bank (ACB) slightly shed while Saigon-Hanoi Bank (SHB) strongly down.

At the close, 216 stocks declined, 56 advanced and 112 ended flat.

Liquidity remained low on the two bourses. Volume hit 26.7 million shares, worth VND587 billion ($28.36 million), on the HoSE, while reaching 25.7 million shares worth VND315 billion ($15.22 million) on the HNX.