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| Investors watch stock prices at Vincom Securities Co. The VN-Index fell 4.12 points, or 0.91%, from the previous session to close at 447.27 on Monday - Photo: Le Toan |
Liquidity on the southern bourse also declined with 46.3 million shares worth VND1.1 trillion traded, decreasing by 12.6% and 16% against the previous day respectively. Investors bid for 79 million shares, almost on a par with the amount on offer at 79.6 million shares, the latter contracting by a quarter.
The market opened briefly higher before starting to slide and fell back to hit the daily low of 442.43 by the middle of the continuous matching phase. It then rebounded somewhat but still closed in the red.
The market saw 43 stocks advancing while 169 others losing grounds, of which six stocks closed at the ceiling prices and 48 others plunged to the floor prices.
Viet-Han Corp. (VHG) became the most actively traded stock but it dropped to the floor price of VND20,900 per share on the volume of 1.5 million shares, followed by Investment and Trading of Real Estate Co. (ITC), which also lost 4% against the previous day to VND23,900 with 1.4 million shares changing hands.
Foreigners were still strong net buyers, acquiring 3.5 million shares worth VND120 billion and offloading 1.4 million shares worth VND49 billion. They accounted for 10.7% and 4.4% of the market’s buying and selling value respectively.
Meanwhile, the Hanoi market tumbled again on Monday in much lower turnover of VND890 billion. The HNX-Index lost 2.93 points, or 2.23%, against the previous day and ended the day at 128.22.
Only 47 stocks increased while 253 stocks declined, including three stocks hitting the ceiling prices and 32 stocks dropping to the floor. Foreigners shifted to the buying side as well, accounting for 0.6% of the buying value and 0.32% of the selling value.
HCMC Securities Corp. in its comment on Monday said Decree 13 continued to dominate sentiment and investors were spooked on Monday by the rumor that the new regulations will be implemented without any delay and without adjustments.
“While the HNX-Index closed almost at its lowest level of the day, the VN-Index managed to stage a five-point rebound from its intraday low to the close, so there are still investors out there who are willing to take a longer term view and scoop up positions if prices fall too quickly. However, the situation remains fragile and sentiment can remain volatile in the immediate future,” it said.
“The rebound off the 442-point level on Tuesday could lead to slightly better sentiment in the very short term. But as long as the new banking regulations cause the volatility that we have seen over the past weeks, it will be hard to give any sort of indication for the direction of the index over the coming week,” the broker added.
