Tuesday brings reality check

The VN-Index of Ho Chi Minh Stock Exchange (HoSE) lost 1.94 points or 0.45 per cent to 432.31 points. Decliners outran advancers 135 to 74 on the southern bourse.

A lot of large-cap stocks were among losers. Vinamilk (VNM) was off VND3,000 after gaining VND3,000 on foreigner’s dramatic buoyant yesterday.

Vietinbank (CTG) fell 2.5 per cent, PetroVietnam Finance 1.51 per cent, Vietcombank 0.71 per cent, while Sacombank (STB) unchanged. Hoang Anh Gia Lai (HAG) shed 1 per cent while Ocean Group (OGC) declining 2.86 per cent.

Masan Group (MSN), FPT Corp. (FPT) and Hoa Phat Group (HPG) significantly advanced today.

Pha Lai Thermal Power (PPC) was suddenly much active with more than 800,000 units traded. The electricity stock had hit the ceiling for the third straight session while Vinh Son-Song Hinh Hydropower (VSH) jumping 2.41 per cent with more than 600,000 units changing hands.

Saigon Securities Inc. (SSI) outperformed the market with 1.24 million shares matched today. Refrigeration Electrical Engineering (REE), Sacombank (STB), Investment and Trading of Real Estate (ITC) and Tan Tao Investment Industry (ITA) continued to be among  the most active stocks.

Trading volumes maintained low at 21 million shares, worth VND336 billion ($16.2 million).

“The market proves increasingly negative as liquidity keeps declining. Investors start being concerned about the banking system’s movement, especially the central bank’s [tightening] policy in upcoming time,” said FPT Securities.

The Hanoi Stock Exchange (HNX) shed 0.92 points or 1.22 per cent to 74.71 points, after 202 stocks declining on the bourse. The advancers were of just 61 stocks and nearly 80 stocks were untraded.

Major stocks especially securities company shares sharply lost. Kim Long Securities (KLS) skid 4.31 per cent, VnDirect Securities (VND) 5.08 per cent while Bao Viet Securities tumbled 6.21 per cent.

Other major stocks including PetroVietnam Construction (PVX), Sacomreal (SCR), Vietnam Construction and Import-Export (VCG) were sharply off.

The northern bourse’s liquidity was much higher than HoSE’s at 35 million shares worth VND418 billion ($20.19 million). Put-through volumes made up 6.5 million units worth VND91 billion ($4.4 million).