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| Investors watch stock prices at Saigon Securities Inc. The VN-Index fell 4.55 points, or 0.99%, from a day earlier and closed at 453.32 - Photo: Le Toan |
The VN-Index fell 4.55 points, or 0.99%, from a day earlier and closed at 453.32.
Meanwhile, liquidity on the southern bourse remained high as 57.4 million shares worth VND1.7 trillion were traded, up 3.4% and 15.8% from the previous session respectively.
The market opened lower and fell back steadily to hit a low during the second matching phase before recovering and then in the final phase fell back once again to close at the daily low.
Up to 145 stocks lost ground while 56 others moved higher, of which nine stocks closed the day at their ceiling prices and seven issues dropped to the floor prices. Major sectors were mixed to lower on Tuesday.
Ocean Group Co. (OGC) once again took the lead in terms of liquidity, surging by 4.7% from the previous day to VND37,600 per share with a hefty 14.3 million shares traded. Eximbank (EIB) was the second biggest traded issue but it closed flat at VND17,600 per share with 1.6 million shares changing hands.
Foreigners were net buyers in terms of value as they acquired 5.8 million shares worth VND262 billion and offloaded 7.1 million shares worth VND248 billion. They accounted for 15.3% and 14.5% of the market’s buying and selling value respectively.
The Hanoi market fell on Tuesday amid lower turnover of VND1 trillion. The HNX-Index fell by 1.74 points, or 1.31%, against the session earlier and ended the day at 131.57.
The market saw 58 stocks rising and 242 others falling, including eight stocks hitting the ceiling prices and eight others dropping to the floor prices. Foreigners were net sellers again and accounted for 0.68% of the buying value and 0.84% of the selling value.
Fiachra Mac Cana, managing director of HCMC Securities Corp., said despite the fall on both markets on Tuesday, the damage was fairly limited while turnover remained good.
Fallout from the September CPI releases in HCMC and Hanoi was fairly muted but at the same time, buyers were quite cautious about pushing up prices. Foreign participation remained high although in fact selling pressure increased markedly, he said.
“The market was quite interesting on Wednesday with a steady decline across the board in most issues… The market seemed a little confused at the moment with some sharp upward and downward price movements at the close on Wednesday amid soaring bid levels. But, behind all this we still feel that prices continue to be fairly well supported at current levels and investors meanwhile await near term developments,” he said.
