Stocks end mixed on investor caution
Vietnamese shares were mixed on September 25 with low trading liquidity as investors remained unsure of the stock market’s prospects.
Workers produce plastic pipes at Binh Minh Plastic JSC’s factory at Pho Noi A Industrial Zone in the northern province of Hung Yen (Source: VNA)
Hanoi (VNS/VNA) - Vietnamese shares were mixed on September 25 with low trading liquidity as investors remained unsure of the stock market’s prospects.
The benchmark VN Index on the HCM Stock Exchange inched down 0.19 percent to close at 805.58 points, retreating from Friday’s gain of 0.4 percent.
On the Hanoi Stock Exchange, the HNX Index gained 0.77 percent to end at 107.34 points, extending its positive direction for a fourth session with total growth of 2.5 percent.
More than 213.4 million shares were traded on both stock markets, worth 4.05 trillion VND (180 million USD).
September 25’s trading numbers were down 21 percent in trading volume and 18.6 percent in trading value compared to the previous session.
The market breadth was negative as declining stocks outnumbered gaining ones by 269 to 191 while 108 others closed unchanged.
Large-cap stocks performed badly with 19 of the 30 largest stocks on the VN30 Index declining. The VN30 Index tracks the performance of the 30 largest listed companies by market capitalisation and liquidity.
Decliners on the VN30 Index included FLC Faros Construction (ROS), Thanh Thanh Cong Tay Ninh Sugar JSC (SBT), brewer Sabeco (SAB) and Bình Minh Plastic JSC (BMP).
Among those stocks, ROS, SBT and BMP were hit by investor selling after they had made strong gains in previous sessions.
ROS slumped 6.5 percent after it had enjoyed a seven-day rally of total 12 percent, SBT dropped 4.2 percent following its two-day increase of 2 percent and BMP fell 1.6 percent.
Among speculative stocks, KLF Joint Venture Global Investment JSC (KLF) plunged 9.7 percent after it posted strong growth last week.
KLF had soared more than 52 percent in the previous seven sessions.
On the positive side, gaining stocks included Sacombank (STB), consumer goods producer Masan Group (MSN) and DHG Pharmaceutical JSC (DHG).
MSN jumped 4.8 percent to extend its gains for a second session after the company announced on September 21 that it would buy back maximum 10 percent of the shares that are available on the stock market.
Bao Viet Securities Company (BVSC) said in its daily report that the benchmark VN Index is forecast to move narrowly around the level of 806 points in the next few sessions.
Investor sentiment was weak, proven by the trading liquidity that remained lower than the average of the previous 21 sessions while losing stocks continued to outnumber gaining ones, BVSC said, adding that investors were clearly cautious and were running out of patience with the market’s prospects.-VNA
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