Markets await new signals

Vietnam’s stock markets still have not established positive momentum, as most blue-chip stocks slumped on August 2, while penny-chips were not strong enough to help markets to open week on an upward trend.

VN-Index, a measure of 251 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, erased previous gains, declining 0.47 percent, or 2.3 points, to close at 491.61.

On the index, 61 stocks advanced, 142 dropped, while 52 stalled.

Trading volume was fairly thin as investors did not feel safe. Around 37.3 million shares were traded at a value of VND1.12 trillion. Of which, foreign investors bought shares of PetroVietnam Fertilizer and Chemicals Corporation (DPM), PetroVietNam Transportation Corporation (PVT), and Sacom Development and Investment Corporation (SAM) heavily.

Stocks have retreated to low price levels for a long time now; however, a small number of investors have been attracted.

Thanh Cong Textile Garment Investment Trading Joint Stock Company (TCM) was the most active share in volume with 2.51 million shares changing hands.

DIC Investment and Trading Joint Stock Company (DIC) came next with 1.59 million shares, followed by Vietnam Electricity Construction Joint Stock Corporation (VNE) with 1.48 million shares.

Gia Lai Cane Sugar Thermoelectricity Joint Stock Company (SEC) and Techno - Agricultural Supplying Joint Stock Company (TSC) both gave up the daily maximum allowed limit of 5 percent, falling to VND28,500 and VND22,800 respectively.

From August 2 to October 2, Nguyen Van Lung, member of the Board of Directors of Gia Lai Cane Sugar Thermoelectricity Joint Stock Company (SEC), registered to sell 20,000 shares, cutting his holdings to 20,000 shares, for family’s expenses.

Seafood producer Basa Joint Stock Company (BAS) slipped 4.96 percent to VND11,500.

Hanoi-based TMT Automobile Joint Stock Company (TMT) and Viet - Han Corporation (VHG) surged 5 percent to VND27,300 and VND25,200 respectively.

Seafood producer Vinh Hoan Corporation (VHC), located in the Mekong delta province of Dong Thap, added up 4.92 percent to VND40,500.

As several stocks tumbled on the northern market, the Hanoi’s HNX-Index ended its streak of two straight gaining sessions, adjusting 1.95 points, or 1.27 percent, to 151.38. Liquidity sharply dropped, as just 25.8 million changed hands, at nearly VND800 billion.

The UPCoM-Index slid 0.08 points to 52.5. There were around 290,000 shares being traded, worth VND4.18 billion on the trading floor of unlisted shares, as of 11 am local time.

By Thuy Doan

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