Liquidity vaporizes as market falls

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Among them, Ho Chi Minh Stock Exchange (HoSE) saw 47.7 million shares worth VND720 billion ($34.8 million) changing hands. Hanoi Stock Exchange (HNX) saw 32.1 million shares worth VND333.3 billion ($16.1 million) traded.

The market continued its correction trend without supportive news. Both benchmarks fell to negative territory throughout this session.

At the close, HoSE’s VN-Index lost 4.04 points or 0.93 per cent to 431.44 points, while HNX’s HNX-Index shed 0.3 points or 0.4 per cent to end at 75.3 points.

Selling pressure happened in both blue-chips and speculative pennies today.

Key pillar stocks Bao Viet Holdings (BVH), Vietcombank (VCB) and PVGas (GAS), along with blue-chips PetroVietnam Drilling and Well Services (PVD) were among the biggest losers. Military Bank (MBB) slightly shed.

Mineral stocks like Lao Cai Mineral Exploitation & Processing (LCM), Hamico Group Mineral (KSH), Binh Thuan Hamico Mineral (KSA), Tay Bac Minerals Investment (KTB), Nari Hamico Minerals (KSS) massively hit the floor.

Speculative real estate stocks Transport Engineering Construction & Business Investment JSC 584 (NTB), International Development and Investment Corp. (IDI), Vietnam Electricity Construction (VNE) continued being strongly weighed down by big offering volumes.

Selling pressures in speculative pennies also dragged down the Hanoi bourse, where decliners doubled advancers 148 to 71.

On the other hand, a number of blue-chips were significantly driven up supporting the market, among them Sacombank (STB), Eximbank (EIB), Masan Group (MSN), Vinamilk (VNM).

HNX’s major stocks did not fall too deeply. Bao Viet Securities (BVS) slightly shed 0.73 per cent, while Kim Long Securities (KLS) and VNDirect Securities (VND) were up. Habubank (HBB) and Saigon-Hanoi Bank (SHB) were unchanged. Vietnam Construction and Import-Export (VCG) just slightly slipped, PetroVietnam Construction (PVX) was unchanged, while other major stocks largely saw modest falls of less than 2 per cent each.