Liquidity softens market’s landing

August 02, 2011 | 15:00

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The stock market continued to fall Tuesday, but the liquidity improved.

The VN-Index of Ho Chi Minh Stock Exchange (HoSE) lost 5.46 points or 1.36 per cent to 396.49 points, while the HNX-Index of Hanoi Stock Exchange (HNX) remained at rock bottom falling 1.2 points or 1.75 per cent to 67.4 points.

Trading volume, however, sharply rose 37 per cent on the main HoSE to 30.5 million shares, with value reaching VND601.24 billion ($29.3 million).

Put-through volumes made up 11.4 million shares worth VND306.3 billion ($14.9 million), with Sacombank continuing its active position at more than 4.9 million units traded.

Liquidity was also significantly improved on northern bourse, with trading volumes rising to 26.1 million shares worth VND273 billion ($13.3 million). Put-through value stood at VND41.3 billion ($2 million).

Blue-chips massively dipped on the HoSE, among them Bao Viet Holdings (BVH), Vincom Corp. (VIC), PetroVietnam Finance (PVF) and Kinhbac City Development Share Holding Corp. (KBC) hitting the floor.

FPT Corp. (FPT) and Hoang Anh Gia Lai (HAG) were also among top droppers that pushed the market down.

Speculative stocks like Saigon Securities Inc. (SSI), Tan Tao Investment Industry Corp. (ITA) also significantly fell.

In contrast, Sacombank (STB) hit the ceiling with more than 2.2 million shares changing hands on the ongoing rumors that the lender is to be acquired by a major institution.

Up to 179 stocks declined, with 67 hitting the floor, while just 58 were up and 47 unchanged.

On the HNX, decliners also overwhelmed advancers 197 to 49, while 145 stocks ended flat.

Some financial shares like Kim Long Securities (KLS), Bao Viet Securities (BVS) and Asia Commercial Bank (ACB) just modestly declined.

By Hai Linh

vir.com.vn

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