Investors remain in the doldrums

The VN-Index of Ho Chi Minh Stock Exchange (HoSE) shed 2.26 points or 0.58 per cent to 386.62 points.

Real estate stocks, including both large-cap to small-cap ones, were among top losers with big selling pressures.

Hoang Anh Gia Lai (HAG), Song Da Urban & Industrial Zone Investment and Development (SJS), Khang Dien House Trading and Investment (KDH) all hit the floor. Tu Liem Urban Development (NTL), Sao Mai Construction Corp. (ASM), Investment and Trading of Real Estate (ITC) hit the floor as well.

Ocean Group (OGC) hit the floor with one million shares matched. Tan Tao Investment Industry Corp. (ITA) continued being strongly sold. Kinh Bac City Development Share Holding Corp. (KBC) saw little demand for its shares, falling to record-low level.

Securities companies Saigon Securities Inc. (SSI) and Ho Chi Minh City Securities Corp. (HCM) significantly dropped, while PetroVietnam Finance (PVF) hit the floor.

Several large-cap stocks dropped making the market hard to rebound. Key pillar stocks Bao Viet Holdings (BVH) hit the floor, while Masan Group (MSN) dropping 2.86 per cent.

Nearly half the bourse ended off, namely 140 stocks declined and 78 advanced. Some 90 stocks ended flat.

However, banking stocks were much less negative. Vietinbank (CTG) gained 1.08 per cent, Military Bank (MBB) advanced 1.5 per cent, while Eximbank (EIB) and Sacombank (STB) unchanged. Vietcombank (VCB) just slightly shed.

On the Hanoi Stock Exchange (HNX), selling pressure were strong on almost all stocks pushing 120 stocks declining and 181 unchanged, compared with 75 up Some 141 stocks had no transaction.

Leading stocks like VNDirect Securities (VND), PetroVietnam Construction, Kim Long Securities (KLS) mostly stayed unchanged.

Liquidity sunk further on both bourses. Total matching value reached as low as VND584 billion ($28.2 million).

Put-through transactions also kept quiet. Overall, HoSE had 35.8 million shares worth VND454 billion ($21.9 million) changed hands and HNX had 22.3 million shares worth VND155.9 billion ($7.5 million) traded.