Markets head to the floor

November 19, 2012 | 17:00

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The stock market opened weak with very low liquidity and declines in both benchmarks.

The matching value of the two stock exchanges totaled as little as VND358 billion ($17.2 million).

Meanwhile, put-through value was low also. Ho Chi Minh Stock Exchange (HoSE) saw 22.5 million shares worth VND378.3 billion ($18.2 million) changed hands, while Hanoi Stock Exchange (HNX) saw 25.2 million shares worth VND140.5 million traded.

Stocks particularly large-cap one fell on a large scale pushing the benchmark VN-Index down 2.39 points, or 0.62 per cent, to end at 383.32 points.

Hoang Anh Gia Lai (HAG) hit the floor on poor results for the third quarter. Other stocks in real estate and construction sector including Song Da Urban & Industrial Zone Investment and Development (SJS), Kinh Bac City Development Share Holding Corp. (KBC), Vincom Group (VIC) also strongly dropped.

Banking stocks largely ended lower, among them Vietcombank (VCB), Vietinbank (CTG), Military Bank (MBB), Eximbank (EIB), Asia Commercial Bank (ACB), Saigon-Hanoi Bank (SHB). Sacombank (STB) was unchanged.

Whereas, producing stocks PetroVietnam Fertilisers (DPM), Masan Group (MSN), Kinh Do Corp. (KDC), Vinacafé Bien Hoa (VCF) advanced.

Sentiment was very weak on the southern bourse. Only three stocks MBB, STB and Sacom Development and Investment Corp. (SAM) had more than 1 million shares matched each, while matching volume of other top-active tickers fell to some hundreds of thousands of units.

Some 122 stocks declined on the southern bourse and 83 advanced. A few small-cap and mid-cap stocks strongly rose, among them Fecon Foundation Engineering and Underground Construction (FCN), Bac Giang Exploitable Mineral (BGM), Duong Hieu Trading and Mining (DHM) and Vegetable Oil Packing (VPK).

The HNX-Index slightly shed 0.36 points or 0.69 per cent to 51.45 points. Leading stocks of the northern bourses largely stayed unchanged or moved sideways today.

Whereas, Sacomreal (SCR) jumped 4.76 per cent and outperformed with 5.8 million shares matched. Vinh Khanh Cable Plastic Corp. (VKC) hit the ceiling with 369,000 shares matched.