Market turns tail

September 06, 2012 | 17:00

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Investors’ sentiment became even worse Thursday after a long fluctuating market.

Matching values dropped to VND410 billion ($19.8 million) on Ho Chi Minh Stock Exchange (HoSE) after skimming at VND500 billion ($24.2 million) level for weeks.

The value also sunk to VND173.5 billion ($8.4 million) on Hanoi Stock Exchange (HNX).

Put-through transaction also kept quiet. HoSE’s liquidity totaled 33.4 million shares worth VND541.7 billion ($26.2 million), while HNX’s liquidity standing at 24.2 million shares worth VND216.9 billion ($10.5 million).

Investors’ sentiment became worse after many sessions the market fluctuations. Meanwhile, the government’s month press conference showed almost no remarkable news which can encourage investors, as it mainly discussed 2012 and 2013 economic targets.

HoSE’s VN-Index significantly lost 5.5 points or 1.38 per cent to end at 393.41 points.

Several large-cap stocks dragged down the market. Key pillar stock Bao Viet Holdings (BVH) hit the floor on big offering volumes.

Among top losers, key pillar stocks Vinamilk (VNM) slipped 1.87 per cent and PetroVietnam Gas (GAS) lost 3.94 per cent. FPT Corp. (FPT) shed 2.72 per cent, Phu Nhuan Jewelry (PNJ) 3.72 per cent, PetroVietnam Drilling and Well Services (PVD) 1.75 per cent.

Several financial stocks eased back as well. Eximbank (EIB) fell 2.53 per cent today with 1.3 million shares sold. Military Bank (MBB) ended off 0.72 per cent while Vietcombank (VCB) and Vietinbank (CTG) keeping unchanged. Saigon Securities Inc. (SSI) and PetroVietnam Finance (PVF) strongly dropped.

Speculative stocks in real estate and construction sectors, mineral, rubber sectors also massively fell. Some 153 stocks declined on the main bourse, compared with 69 advancing and 86 unchanged.

HNX’s HNX-Index lost 0.6 points or 0.98 per cent to 60.32 points, after 128 losers outrunning 54 advancers. As many as 138 stocks saw no transaction on the bourse.

Leading stocks like VNDirect Securities (VND), Kim Long Securities (KLS), Saigon-Hanoi Bank (SHB), PetroVietnam Construction (PVX) modestly lost some 2-3 per cent each.