HoSE in the dumps

The benchmark ended off 2.33 points or 0.54 per cent to 425.28 points, although it had slightly rising to the positive territory during the session.

Most major stocks ended lower of flat. Among them, banking stocks Vietcombank (VCB), Vietinbank (CTG), Sacombank (STB), Asia Commercial Bank (ACB) significantly lost while Eximbank (EIB) and Military Bank (MBB) unchanged.

Key pillar stocks Bao Viet Holdings (BVH) shed and PetroVietnam Gas (GAS) ended flat. Just Masan Group (MSN) and Vinamilk (VNM) climbed.

Investors proved impatient strongly selling out speculative stocks. Refrigeration Electrical Engineering Corp. (REE) and Sacom Development and Investment Corp. (SAM) saw big offering volumes.

Several cheap real estate like Transport Engineering Construction & Business Investment JSC 584 (NTB), Urban Development and Construction Corp. (UDC), Dat Xanh Real Estate Service & Constructions Corp. (DXG), Pacific Property and Infrastructure Development and Investment (PPI) sharply fell on selling pressures.

Most mineral stocks and rubber stocks also turned head to fell back. Tay Bac Minerals Investment (KTB), Lao Cai Mineral Exploitation & Processing (LCM), Binh Dinh Minerals (BMC) shed while Bac Giang Exploitable Mineral (BGM) ending flat. Phuoc Hoa Rubber (PHR), Sao Vang Rubber (SRC) and Thong Nhat Rubber (TNC) even sharply fell to floor prices.

Whereas, a number of speculative stocks still rallied. Sao Mai Construction Corp. (ASM) and PetroVietnam-Idico Long Son Industrial Park Investment (PXL) slightly gained while Post and Telecommunications Investment and Construction (PTC) strongly jumped.

Half the southern bourse ended off, namely 140 stocks declined and 73 advanced. Decliners also outran advancers 134 to 84 on Hanoi Stock Exchange (HNX), pushing the benchmark HNX-Index down 0.52 points or 0.7 per cent to 74.24 points.

Liquidity continued falling further. The total matching value of two bourses was just VND1.1 trillion ($53.1 million). HoSE’s trading value stood at VND767 billion ($37.1 million), while that of HNX slipped to VND370 billion ($17.9 million).

Amidst the correction trend, foreigners continued net buying on HNX, with VND32.56 billion ($1.6 million) worth of shares net bought today. PetroVietnam Construction (PVX) and Vietnam Construction and Import-Export (VCG) were purchased the most.