Week starts with a reality check

Volumes reached 22.88 million on Ho Chi Minh Stock Exchange (HoSE), valued at VND420 billion ($20.3 million), down 50 per cent in terms of volume and value.

Saigon Securities Inc. (SSI) outperformed with more than two million shares traded. Vietnam Mechanisation Electrification and Construction (MCG), Sacombank (STB) and Refrigeration Electrical Engineering Corp. (REE) followed with more than one million shares changing hands each.

Other major stocks and even blue-chips saw just modest volumes traded on the southern bourse.

Foreign investors also strongly reduced their buying volumes to 2.14 million shares, focusing on FPT Corp., REE, SSI, Vietcombank (VCB) and PetroVietnam Fertiliser (DPM).

The benchmark VN-Index dropped 9.6 points, or 2.17 per cent, to 433.81 points, dragged down by Masan Group (MSN), Vincom Corp. (VIC) hitting the ceiling and Bao Viet Holding (BVH) skidding.

Real estate shares massively raised, with Licogi 16 (LCG), Cotec investment and Land-House Development (CLG) and Investment and Trading of Real Estate (ITC) all hitting the ceiling. Thu Duc Housing Development (TDH) and Dream House Investment Corp (DRH) hit the ceiling as well.

Some other real estate stocks strongly jumped with hundreds of thousands units changing hands.

Some 90 stocks gained on HoSE, compared with 118 off and 81 flat.

The Hanoi Stock Exchange (HNX) saw up to 211 stocks declining with 62 hitting the floor, compared with 72 up. The benchmark HNX-Index, however, just slightly shed 0.27 points or 0.37 per cent to 73.6 points.

Approximately 3.5 million PetroVietnam Construction (PVX) shares and the same volume of Kim Long Securities (KLS) were traded. Both two stocks were significantly up.

Securities companies’ shares VnDirect Securities (VND) and Bao Viet Securities (BVS), along with the real estate stock Vinaconex (VCG) were among the top active stocks.