Shares on the Hanoi Stock Exchange opened in a high note but soon returned to the negative territory as the waning liquidity eroded the investor confidence in a rebound although the market benchmark was about 16-month low. The money flow for equity market seemed to be tight as investors lacked confidence in the immediate rebound, traders said.
The HNX-Index, the measure of 328 stocks, lost 0.37 points, or 0.28%, to 132.25, short of just a quarter of a point to touch the 16-month low.
The gauge dropped nearly 30% of its value from this years high of 187.22 points on May 6 and 21.5% this year, becoming the worst performer in Asia, according to data compiled by FPT Securities, which runs this website.
The market breadth was negative on the northern bourse where 86 stocks advanced, 186 declined, 37 closed unchanged and 19 were untraded.
The market liquidity continued to shrink, totaling 25.25 million shares valued at VND665 billion.
PetroVietnam Construction (PVX) remained the most active on the gauge with 4.36 million units changed hands, which slumped 0.88% to end at VND22,600.
Kim Long Securities (KLS), coming second in liquidity on a trade of 1.95 million shares, dropped 2% to end at VND14,700.
Hoa Binh Securities (HBS) slid 1.43% to end at VND20,700 on a trade of 750,000 shares, becoming the third most active.
None of 10 stocks with largest market value rose, with nine losers. Vinaconex (VCG), the largest construction firm on the gauge, shed 2.9% to end at VND23,400. Saigon Hanoi Bank (SHB), the second largest listed lender, dipped 1.46% to settle at VND13,500.
LUT was the biggest loser, dropping the daily limit of 6.95% to VND34,800. HCC was the biggest gainer, adding 6.99% to settle at VND41,300.
Source: fpts.com.vn