Stocks retreat on investor caution

Tuesday, January 20, 2015 10:10

Stocks failed to hold gains on January 19 as investors stayed cautiousahead of the 2014 earnings report for listed companies and probablerisks from Circular 36, which is expected to restrain lending for stockinvestments.

On the Hochiminh Stock Exchange, the benchmarkVN-Index lost more than 3 points, or 0.57 percent, closing the January19 session at 571.51 points.

Blue chips led the downturn as overhalf of the top 30 shares by market value and liquidity declined withthe VN30 down 0.5 percent to end at 611.64 points.

Phu MyFertiliser (DPM) was the biggest loser, down 5.3 percent and finishingat 30,600 VND (1.43 USD) a share. Other large-cap shares likeVietcombank (VCB), Hoang Anh Gia Lai Co (HAG), Bao Viet Holdings (BVH),Saigon Securities Inc (SSI) and FPT Corp (FPT) also slumped between 0.6and 2.5 percent.

Liquidity was low, with the market volumereaching just 88.4 million shares worth 1.5 trillion VND (70.1 millionUSD), down 20 percent in volume and 10 percent in value compared withJanuary 16’s figures.

FLC Group (FLC) remained the most activecode, trading 7.3 million shares. But the share price dropped 2.7percent to 10,800 VND a share.

On the Hanoi Stock Exchange, theHNX-Index also dipped 0.11 percent to close at 85.26 points, with thenegative market condition of 82 stocks rising, 105 decreasing and 173staying flat.

The HNX30, which tracks the top 30 shares by market liquidity here, also sank 0.41 percent to stand at 166.38 points.

Liquiditykept declining and hit a five-month low. Both market volume and valuedropped 10 percent from January 16, totalling more than 41 millionshares worth nearly 631 billion VND (29.5 million USD).

FLC JointVenture Global Investment Co (KLF) was the most active stock, with 7.8million shares. But its price fell 1.7 percent to settle at 11,500 VNDeach.

Foreign investors concluded as net buyers in HCM City,picking up shares worth 43.3 billion VND (2 million USD), but they werenet sellers in Hanoi with a whopping 118 billion VND (5.5 million USD).Their selling focused on Tien Phong Plastics (NTP), which is worthnearly 134 billion VND (6.3 million USD), the highest level sinceJanuary 2014.-VNA

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