Liquidity levels splutter as week gets off to a poor start

Trade values on the Ho Chi Minh Stock Exchange (HoSE) stood at VND544.32 billion ($26.3 million) – the lowest level within recent three weeks. Volume hit nearly 25 million shares.

Foreigners’ buying volumes on the main bourse stood at as low as 1.58 million shares.

On the Hanoi Stock Exchange (HNX), as little as 28.2 million shares worth VND411.82 billion ($19.9 million) changed hands, down 25 per cent against the previous session.

“The majority of investors now have a negative sentiment about the market,” Vietnam International Securities said, considering the low sentiment as generating from the government’s tightening monetary policies and high interest rates.

Saigon-Hanoi Securities said “investors are waiting for Q1’s business reports and April’s inflation result in order to assess more exactly the impacts caused by government’s macroeconomic policies.”

The two benchmarks still slightly rose today. HoSE’s VN-Index added 1.78 points, or 0.39 per cent, to 459.52 points, helped much by the large-cap stocks.

Bao Viet Holding (BVH) was among the top gainers which advanced 3.55 per cent. Vincom Corp. (VIC) ended 1.67 per cent higher, while Vietinbank (CTG) climbed 3.16 per cent.

Hoang Anh Gia Lai (HAG) and Hoa Phat Group (HPG) also slightly rose.

Financial shares almost unchanged, among them Saigon Securities Inc. (SSI), Sacombank (STB), Vietcombank (VCB) and Eximbank (EIB).

At the close, 109 stocks fell down on the southern bourse while 90 up and 83 ended flat.

The HNX-Index climbed 0.25 points higher (0.27 per cent) to end at 93.07 points. Some 113 stocks were up, 152 giving back and 114 unchanging on the northern bourse.

Kim Long Securities (KLS), VnDirect Securities (VND), PetroVietnam Construction (PVX) and Vinaconex (VCG) led the gainers helping the market rise.