Stocks on the Hochiminh Stock Exchange (HOSE) declined for a third day as the rallying confidence continued eroding in the wake of waning liquidity and dilution concerns. Investors risk aversion strengthened as there is no clear sign of sustained rally in sight, a stock analyst said. "Losing liquidity and oversupply concerns continue to weigh on the market," he said.
The VN-Index, the measure of 253 stocks and five closed-end funds, lost 3.26 points, or 0.72%, to end at 452.23. The benchmark sank to the lowest close since December 21, 2009 a week ago.
The gauge has declined 18% from the yearly high and 9% so far this year, according to data compiled by FPT Securities, which manages this website.
The market breadth was very negative on the Hochiminh Stock Exchange where 57 stocks advanced, 143 declined and 58 closed unchanged.
The market liquidity dropped 15% to as low as 31.5 million shares and fund units valued at VND874 billion.
Foreigners bought net VND36.5 billion of Vietnamese shares today as they purchased 1.79 million shares at VND70.54 billion and sold 1.05 million units for VND34 billion.
Eximbank (EIB), the third largest listed lender, was the most active stock on a trade of 2 million shares, which sank 1.81% to VND16,300.
Sacombank (STB), the fourth largest listed lender, coming second in liquidity with 1.2 million units, closed flat at VND15,800.
Saigon Securities Inc (SSI), the largest listed stock broker, dipped 1.75% to end at VND28,000 on a trade of 723,000 units, becoming the third most active issue.
UDC was the biggest gainer, climbing 4.95% to end at VND17,300. SBS was the biggest loser, sliding 4.98% to close at VND26,700.
Source: fpts.com.vn