Markets stall on investor over-caution
Shares on both national stock exchanges slumped on the July 6 trading session, ending a two-day rally.
Shares on both national stock exchanges slumped on the July 6 trading session, ending a two-day rally.
"The stock market is still at very low levels of market value," said Hoa Binh Securities Co analyst Nguyen Phuc Thinh. "The value and volume of trades at this stage depend mainly on a few blue chips."
Economic information and Government policies have been supportive for investment, Thinh said. "But caution has been the top priority of investors."
He called for more specific actions from State agencies to help boost the securities market.
On the HCM Stock Exchange, the VN-Index slid by 0.63 percent from July 5's close to end the day at 428.30 points. The value of trades, however, rose 37.6 percent over the previous day to 518 billion VND (25.2 million USD) on a volume of nearly 22 million shares.
During the three most recent sessions, demand has been more positive, Thinh noted, so there has been no major sell-off.
Blue chips struggled, with six of the 10 leading shares by capitalisation losing 0.3-2.6 percent of their value. Decliners outnumbered advancers overall by 173-49.
Saigon Securities Inc (SSI) was the most-active share, with 1.4 million traded, but SSI shares lost 0.6 percent to close at 18,000 VND per share.
On the Hanoi Stock Exchange, the HNX-Index dipped by 1.17 percent to 73.44 points, with nearly half of all codes on the northern bourse losing ground. The value of trades reached just 258.4 billion VND (1.3 million USD) on a volume of 22.5 million shares.
Kim Long Securities (KLS) saw the highest trading volume nationwide with over four million shares changing hands.
Foreign investors were sellers on the southern bourse by a modest net of just 1.5 billion VND (72,800 USD). However, they were net buyers in Hanoi, picking up a net of 5.7 billion VND (276,700 USD) worth of shares./.
"The stock market is still at very low levels of market value," said Hoa Binh Securities Co analyst Nguyen Phuc Thinh. "The value and volume of trades at this stage depend mainly on a few blue chips."
Economic information and Government policies have been supportive for investment, Thinh said. "But caution has been the top priority of investors."
He called for more specific actions from State agencies to help boost the securities market.
On the HCM Stock Exchange, the VN-Index slid by 0.63 percent from July 5's close to end the day at 428.30 points. The value of trades, however, rose 37.6 percent over the previous day to 518 billion VND (25.2 million USD) on a volume of nearly 22 million shares.
During the three most recent sessions, demand has been more positive, Thinh noted, so there has been no major sell-off.
Blue chips struggled, with six of the 10 leading shares by capitalisation losing 0.3-2.6 percent of their value. Decliners outnumbered advancers overall by 173-49.
Saigon Securities Inc (SSI) was the most-active share, with 1.4 million traded, but SSI shares lost 0.6 percent to close at 18,000 VND per share.
On the Hanoi Stock Exchange, the HNX-Index dipped by 1.17 percent to 73.44 points, with nearly half of all codes on the northern bourse losing ground. The value of trades reached just 258.4 billion VND (1.3 million USD) on a volume of 22.5 million shares.
Kim Long Securities (KLS) saw the highest trading volume nationwide with over four million shares changing hands.
Foreign investors were sellers on the southern bourse by a modest net of just 1.5 billion VND (72,800 USD). However, they were net buyers in Hanoi, picking up a net of 5.7 billion VND (276,700 USD) worth of shares./.
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