Dec 30: Vietnam Stocks Close Sharply Down as Traders Unwind Position
StoxPlus | Latest Update: Monday, 30 December 2013 15:52:00
Vietnamese stocks posted a sharp loss today as investors closed their position fearing further correction on lack of supporting news.
The benchmark VN Index lost 6.06 points or 1.2% to 500.35. Volume rose 27% to 94.3 million worth of VND1.608 trillion. In the put-through trading session, we saw 3.2 million VIC shares changed hands at flat line of VND70,000 each and 0.3 million VNM shares changed hands at the ceiling level of VND145,000 each and 1.17 million MBB shares changed hands mostly at the floor price of VND11,700 each.
The loss was broad-based, with just 1 gainer for every 5 losers.
The VN30 lost 5.91points or 1.05% to 556.37. Among 30 constituents, 2 gained, 25 fell, 3 stood still.
Market opened in the red with 1.4 million shares changed hands. Trading was in caution at first and there were still some buying efforts into selective stocks. Then it became more active in late morning and early afternoon trading due to profit taking efforts. Market went further down as it progressed because sellers were more decisive and aggressive to exit. In the late afternoon session and ATC session, loss was seen across the board from large caps to pennies, sending the index to close at the low of the day.
High beta stocks most beaten down, DXG, FLC, HAR, KMR, KSA, MCG, NVT, PVT, VNE, VST were all floor losers.
Meanwhile, top 5 large caps, which accounted for roughly 50% of market capitalization were all losers. Broker shares were all losers too.
Banking shares were mixed CTG, EIB, VCB lost, MBB stood still, STB gained.
On the Hanoi Stock Exchange, the HNX lost 0.98 point or 1.44% to 66.95. Trading volume rose 16 % to 59.9 million shares worth VND486.6 billion.
The breadth was negative with 52 gainers,165 losers, 58 unchanged and the rest untraded.
The HNX30 lost 2.73 points or 2.14% to 124.96.
PetroVietnam Construction Joint Stock Corporation (PVX) led in volume with 8.6 million shares changed hands, closing down to VND2,800.
Hanoi Investment General Corporation (SHN) ranked second in volume with 7 million shares changed hands, closing down at VND3,600.
Sai Gon Thuong Tin Real Estate JSC (SCR) came third with 6.8 million shares changed hands, closing down 2.6% to VND7,300.
SHB and KLS were in the list of top active.