Vietnamese stocks extended loss on August 19 on concerns over high supply in the coming time and still weak liquidity. The benchmark VN Index fell 3.26 points or 0.72% to 452.23. Volume shrank to 31.55 million shares traded for VND873 billion compared to 37.46 million shares traded for VND991.53 billion on August 18.
Both volume and liquidity fell to over one month low, which indicated the investors risk aversion as they see no clear signs of supporting news for a sustainable rally.
Headlines today showed that August CPI in the Ho Chi Minh City, the countrys biggest economic centre, fell 0.25%, the second straight falling month with biggest negative amplitude in two years.
The news, however, could not pare the market loss as analysts believe the CPI and bond yields have been bottoming. During the shopping season of the year-end, especially with the imported inflation after a 2.09% dong devaluation, the countrys CPI is very likely pick up again in September, analysts said.
The major market concerns now are huge share supply in the coming time while the liquidity is still weak, analysts said, adding that the key indices are poised to challenge their recent lows.
However, brokers think it is now a good opportunities for long term investors to enter as prices are at attractive levels.
The market opened in the red as investors was cautious, the this sentiment was clearly reflected in the shrinking volume to 1.3 million at the ATO session.
The market went on slowly, some effort to recover was seen but finally succumbed to the selling pressure both came from investors cutting losses and margin call. Nearly six million shares changed hands at the ATC this time sank the market deeper in the negative ground.
Market breath was narrow with 57 gainers, 193 losers and 62 flat stocks, including 4 ceiling gainers and 9 floor losers. On this bourse, daily trading limit is capped at 5% each side.
EIB was the most active stock with 2 million shares traded, closing down 1.81 % to VND16,300.
STB ranked second in the list with 1.18 million shares traded, closing unchanged at VND15,800.
SSI was in the third place with 0.72 million shares traded, closing down 1.75% to VND28,000.
REE and VSH followed with 0.68 million shares and 0.63 million shares traded, respectively.
Foreigners kept on buying on the southern bourse today on the market dip, their net buying was VND 36.54 billion on the Hochiminh Stock Exchange.
On the Hanoi Stock Exchange, the HNX lost 0.37 point or 0.28% to 132.25. Today volume fell to 25.25 million shares traded for VND664 billion compared with 26.23 million shares traded for VND651 billion on August 18.
The market recorded 86 gainers, 186 losers including 16 ceiling gainers and 15 floor losers. On this bourse, daily trading limit is capped at 7% each side.
PVX were the most active stocks on the bourse with 4.36 million shares traded, closing down 0.88% to VND22,600.
KLS was in the second place with 1.94 million shares traded, losing 2% at VND14,700.
HBS ranked third in the list with 0.76 million shares traded, losing 1.43% to VND20,700.
Today foreign players were net buyers of VND1.74 billion of shares on this smaller cap bourse.
Source: stox.vn