Markets slip to six-week low on dwindling trade volumes
Investors continued to offload shares
against weak buy orders on May 18 driving indices down on the two
national stock exchanges and trading volumes slowing to a six-week low.
Investors continued to offload shares
against weak buy orders on May 18 driving indices down on the two
national stock exchanges and trading volumes slowing to a six-week low.
On the HCM Stock Exchange, the VN-Index lost another 0.58 percent to close at 508.30. Volume was off by 18 percent from May 17's level to a total of 44.3 million shares, worth a combined 1.54 trillion VND (81.1 million USD). Over 60 percent of codes lost value.
Masan Group (MSN) was among a handful of blue chips seeing gains, with MSN hitting its ceiling price for a third straight day. Property shares such as Ocean Group (OGC), Vincom Co (VIC) and Song Da Urban and Industrial Zone Investment and Development Co (SJS) also posted gains.
Contrary to May 17's session, many penny stocks fell to their floor prices May 18, including Nari Hamico Minerals (KSS), Dien Quang Co (DQC), Post and Telecommunications Investment and Construction (PTC) and Becamex Infrastructure Development (IJC).
On the Hanoi Stock Exchange, the HNX-Index lost another 1.53 percent to close at 167.02, expanding its five-day loss to 8.48 percent. Volume also slid by 20 percent to 33.8 million shares, worth a total of 1.2 trillion VND (63.2 million USD).
PetroVietnam Construction (PVX) remained the most active share, although on a reduced volume of about 4.2 million shares.
"Pessimistic psychology remained strong among investors, leading the market to fall," said Bao Viet Securities Co analyst Nguyen Duc Thi.
A lack of supporting information, combined with the risks of unstable global stock markets, made investors more cautious, taking a bite out of market liquidity, Thi said.
Analysts at VNDirect Securities Co said some capital seemed to be flowing back into the real estate and over-the-counter (OTC) markets, while HCM City Securities Co analysts also noted that fewer securities companies were now offering the clients opportunities to make leveraged trades.
Foreign investors concluded yesterday as net buyers on the HCM City market, responsible for a net buy of nearly 52.7 billion VND (2.8 million USD) worth of shares, but they were net sellers in Hanoi market by a value of nearly 3 billion VND (157,895 USD)./.
On the HCM Stock Exchange, the VN-Index lost another 0.58 percent to close at 508.30. Volume was off by 18 percent from May 17's level to a total of 44.3 million shares, worth a combined 1.54 trillion VND (81.1 million USD). Over 60 percent of codes lost value.
Masan Group (MSN) was among a handful of blue chips seeing gains, with MSN hitting its ceiling price for a third straight day. Property shares such as Ocean Group (OGC), Vincom Co (VIC) and Song Da Urban and Industrial Zone Investment and Development Co (SJS) also posted gains.
Contrary to May 17's session, many penny stocks fell to their floor prices May 18, including Nari Hamico Minerals (KSS), Dien Quang Co (DQC), Post and Telecommunications Investment and Construction (PTC) and Becamex Infrastructure Development (IJC).
On the Hanoi Stock Exchange, the HNX-Index lost another 1.53 percent to close at 167.02, expanding its five-day loss to 8.48 percent. Volume also slid by 20 percent to 33.8 million shares, worth a total of 1.2 trillion VND (63.2 million USD).
PetroVietnam Construction (PVX) remained the most active share, although on a reduced volume of about 4.2 million shares.
"Pessimistic psychology remained strong among investors, leading the market to fall," said Bao Viet Securities Co analyst Nguyen Duc Thi.
A lack of supporting information, combined with the risks of unstable global stock markets, made investors more cautious, taking a bite out of market liquidity, Thi said.
Analysts at VNDirect Securities Co said some capital seemed to be flowing back into the real estate and over-the-counter (OTC) markets, while HCM City Securities Co analysts also noted that fewer securities companies were now offering the clients opportunities to make leveraged trades.
Foreign investors concluded yesterday as net buyers on the HCM City market, responsible for a net buy of nearly 52.7 billion VND (2.8 million USD) worth of shares, but they were net sellers in Hanoi market by a value of nearly 3 billion VND (157,895 USD)./.
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