Market slow out of the blocks

March 19, 2012 | 17:00

(0) user say

The Ho Chi Minh Stock Exchange (HoSE) slightly declined Monday on market uncertainty.

The VN-Index lost 0.45 points or 0.1 per cent to close at 438.07 points, after strongly fluctuating during the session.

Local investors’ sentiment was weighed down from the previous session when a mass of major stocks were largely sold out.

Major stocks ended mixed today. Vietcombank (VCB) hit the ceiling, Vietinbank (CTG) slightly advanced while Military Bank (MBB) unchanged. In contrast, Sacombank (STB) and Eximbank (EIB) fell, Bao Viet Holdings (BVH) strongly dropped.

The benchmark VN30 slightly added 0.35 points or 497.22 points.

Both buyers and the sellers proved strongly cautious. Most bidding orders were set at low prices. Meanwhile, foreigners reduced trading. Total volume was just 58.6 million shares worth VND920 billion ($44.4 million).

Decliners amounted to 136 stocks, compared with 92 up and 92 unchanged.

Demand for shares was stronger on the Hanoi Stock Exchange (HNX), in which securities company shares excited the most. VNDirect (VND) jumped 4.81 per cent with up to 11 million shares matched. Saigon-Hanoi Securities (SHS) gained 5.45 per cent, Asia-Pacific Securities (APS) 5.26 per cent, Au Viet Securities (AVS) 4.88 per cent and Orient Securities (ORS) jumped 6.06 per cent.

Bao Viet Securities (BVS) gained 1.39 per cent to VND14,600. The benchmark HXN-Index added 0.14 points or 0.19 per cent to end at 72.9 points.

Decliners outran advancers 158 to 116. Some 122 stocks ended flat.

Foreigners also reduced trading on the northern bourse, in which they bought just VND103 billion ($4.9 million) worth of shares.

Liquidity reached 79 million shares worth VND755 billion ($36.5 million).