Liquidity increasingly a scarce commodity

The matching value of Hanoi Stock Exchange (HNX) fell to new low level of VND95.3 billion ($4.6 million), after skimming at some VND130-140 billion ($6.3-6.7 million) for weeks.

Matching value of Ho Chi Minh Stock Exchange (HoSE) also tumbled to a low level of VND263.6 billion ($12.7 million).

Included significant put-through values, the market had more than 40 million shares worth VND472 billion ($22.8 million) changing hands.

Speculative stocks were largely sold out today after the yesterday’s slight recovery. PetroVietnam Transportation Corp. (PVT) hit the floor, PetroVietnam Finance (PVF) dropped 2.82 per cent, while Kinh Bac City Development Share Holding Corp. (KBC) and Sao Mai Construction Corp. (ASM) strongly fell.

Several large-cap stocks like Bao Viet Holdings (BVH), PetroVietnam Fertilisers (DPM) were down and dragging down the market.

Leading sentiment stocks like Sacombank (STB), Tan Tao Investment Industry Corp. (ITA) of HoSE and Kim Long Securities (KLS), VNDirect Securities (VND) of HNX were also put under big selling pressure.

Decliners turned back to outran advancers. Some 133 stocks declined on HoSE, compared with 68 advancers. Of the same situation, HNX saw 102 decliners outrunning 73 advancers.

The increase in buying pressure pushed both indexes down back. HoSE shed 0.86 points or 0.22 per cent to 384.51 points.

Meanwhile, HNX-Index ended at 54.17 points, down 0.02 points or 0.04 per cent.

Speculators drove up a significant number of stocks. Among them, steel giant Hoa Phat Group (HPG) gained 2.4 per cent, real estate stocks Ho Chi Minh City Infrastructure Investment (CII) and Saigon Infrastructure Real Estate Investment (SII) both hit the ceiling, while Duong Hieu Trading and Mining (DHM) also hit the ceiling. Those stocks had hundreds of thousands units matched each.

Banking stocks ended mixed, with Vietcombank (VCB) slightly gaining, Vietinbank (CTG) and Eximbank (EIB) both declining while Sacombank (STB) unchanged.