HoSE falls to the floor

The benchmark VN-Index lost 10.06 points or 2.21 per cent to 444.85 points – the lowest level since November, 2010.

Blue-chips led the gainers. Supportive stocks Masan Group (MSN), Bao Viet Holding (BVH) and Vincom Corp. (VIC) all hit the ceiling as having no buoyancy from foreign investors.

Hoang Anh Gia Lai (HAG) hit the floor for the third straight session to VND35,000. However, the shares were strongly bought today with trading volumes of more than one million shares. The diary giant Vinamilk (VNM) lost 0.88 per cent to VND113,000.

Vietcombank (VCB) turned to fall 1.88 per cent after strongly rallying in the previous three sessions. Vietinbank (CTG) also dropped back 3.03 per cent.

Eximbank (EIB), Sacombank (STB) and PetroVietnam Finance (PVF) all ended flat.

Real estate shares continued its tumble with Tan Tao Investment Industry Corp. (ITA) off 4.31 per cent, Licogi 16 JSC (LCG) 4.72 per cent, Investment and Trading of Real Estate JSC (ITC) 4.79 per cent and Kinhbac City Development Share Holding Corp. (KBC) 4.89 per cent.

In the contrast, the coffee producer Vinacafe Bien Hoa (VCF) hit the ceiling for the seventh session to VND69,000 without any extraordinarily supportive news.

Inflation fears continued weighing on the local stock market and investors waited for May’s consumer-price-index (CPI) figures.

“Investors’ thirst for supportive news has not been eased yet,” said Vietcombank Securities. “CPI for this month is not expected to be low, likely to increase more than 2 per cent.”

Liquidity declined back to 25.46 million shares on HoSE, with value was of VND492 billion ($23.77 million). Just over a sixth the southern bourse advanced today.

The Hanoi Stock Exchange (HNX) slightly fell 0.62 points or 0.79 per cent to 78.24 points. A mass of stocks were strongly driven up thanks to bid orders from manipulators.

Some 176 stocks were off compared with 82 up and 126 unchanged. Trading volume skidded back also to 23.2 million shares worth VND284.34 billion ($13.74 million).