Investors at ACB Securities in Hanoi. 
(Photo: VNA)
 
Hanoi (VNA) - Shares declined for a second day on January 19 on the two national stock exchanges as traders stayed away to avoid losses before the market enters the seven-day Tet (Lunar New Year) holiday.

On the HCM Stock Exchange, the VN-Index edged down 0.14 percent to close at 682.3 points. The southern market index decreased 0.2 percent on the previous day.

On the Hanoi Stock Exchange, the HNX-Index lost 0.5 percent to 82.9 points, expanding its two-day fall to 1.3 percent.

The market condition was negative as the declining stocks overwhelmed the rising ones by 256-156 while another 292 codes remained flat.

Trading volume fell 12.5 percent from the previous session, totalling 110.3 million shares over the two markets. The value of trades was unchanged at 2.5 trillion VND (110.6 million USD).

“The market is under the strong influence of the upcoming Tet holiday,” said Tran Duc Anh, a stock analyst at Bao Viet Securities Co in a market report.

Anh said investors were withdrawing money from the market due to high cash demand for spending during the year-end holiday. At the same time, new investments were waiting for clear opportunities, resulting in quiet trade with low liquidity.

Average trading value decreased from over 2.9 trillion VND in the two markets in December to around 2.5 trillion VND in January. Trade has dropped more sharply towards the end of the month.

Large-cap stocks continued to see negative performance as 20 of the top 30 largest stocks by market capitalisation and liquidity lost value while only three advanced, including Vietinbank (CTG), Sacombank (STB) and multi-sector business Hoang Anh Gia Lai Group (HAG).

Hanoi Beer Alcohol and Beverage JSC (Habeco) started its first trading day on the HCM Stock Exchange with the code BHN on January 19. Its price rose 5.5 percent to settle at 135,000 VND a share.

The biggest listed brewery Sabeco (SAB) closed flat at 223,800 VND a share.

Big losers also included dairy giant Vinamilk (VNM), real estate developer VinGroup (VIC), Masan Group (MSN), Military Bank (MBB) and PV Gas (GAS).

Foreign investors returned as net buyers after two net selling sessions, picking up the net value of VNĐ9 billion. They were responsible for total net sell value of 41 billion VND in the last two trades.-VNA