Liquidity drains from market

Matching values fell to as low as VND306.2 billion ($14.8 million) on Ho Chi Minh Stock Exchange (HoSE), down from already low levels of just VND500 billion ($24.1 million) throughout the past week.

The figure was a low VND182.1 billion ($8.8 million) on Hanoi Stock Exchange (HNX).

Put-through transactions stayed weak. Some 25.4 million shares worth VND417.1 billion ($20.1 million) on HoSE, while HNX witnessed 24.2 million shares worth VND235.4 billion ($11.1 million) traded.

The market was sluggish, due to investors’ concerns the government is lacking initiatives to support the market. Both benchmarks eased back, after slightly gaining yesterday.

VN-Index reduced 0.52 points or 0.13 per cent to 414.48 points. Meanwhile, HNX-Index slipped 0.26 points or 0.37 per cent to 69.19 points.

Several large-cap stocks ended down weighing on the market. FPT Corp. (FPT) lost 2.26 points, PetroVietnam Gas (GAS) fell 0.77 per cent, while real estate stocks Kinh Bac City Development Share Holding Corp. (KBC) and Vincom Corp. (VIC) slightly eased back.

Military Bank (MBB) ended off, while other banking stocks were largely unchanged.

But more stocks rose and advancers outran decliners 109 to 101 on HoSE.

Mineral stocks Duong Hieu Trading and Mining (DHM) and Nari Hamico Minerals (KSS) both hit more than 500,000 units matched each. Bac Giang Exploitable Mineral (BGM) jumped 3.7 per cent. Binh Dinh Minerals (BMC) and Lao Cai Mineral Exploitation & Processing (LCM) significantly rose.

A number of real estate and construction stocks also jumped, among them International Development and Investment Corp. (IDI), Dat Xanh Real Estate Service & Constructions Corp. (DXG), Tu Liem Urban Development (NTL).

Meanwhile, decliners still outran advancers on HNX. Some 117 stocks ended down compared with 88 up. Leading stocks, including securities company shares and banking shares largely kept unchanged or slightly shed.