Shares fall on drained liquidity

Vietnam’s benchmark VN-Index failed to protect rising momentum, declining to open week in bearish sentiment on July 2 as several stocks unexpectedly lost ground at the end of the trading session while liquidity severely drained.

The measure of 302 companies and six mutual funds listed on the Ho Chi Minh City Stock Exchange went down 0.73 percent, or 3.07 points, to close at 419.3 points.

On the benchmark, 55 stocks rose, 194 fell, while 59 remained unchanged.

Trading on the city bourse dropped by 30.7 percent in volume, and 41.8 percent in value over the previous trading session as more than 38.6 million shares changed hands at a total value of VND620.47 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume with 1.96 million shares changing hands.

Ocean Group Joint Stock Company (OGC) followed with 1.17 million shares.

Vinh Son - Song Hinh Hydropower Joint Stock Company (VSH) came third with 1.14 million shares traded.

Mirae Joint Stock Company (KMR) and Tien Len Steel Group Joint Stock Company (TLH) tumbled 5 percent to close at VND3,800, and VND5,700 respectively.

Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) curbed 4.96 percent to close at VND26,800.

Water Supply Sewerage Construction & Investment Joint Stock Company (VSI) edged down 4.94 percent to close at VND7,700.

Long Hau Corporation (LHG) rebuilt 5 percent to close at VND16,800.

Minh Phu Seafood Corporation (MPC) recovered 4.91 percent to close at VND29,900.

Thu Duc Water Supply Joint Stock Company (TDW) resurfaced 4.7 percent to close at VND15,600.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – chopped 5.07 points, or 1.02 percent, to end at 492.66. Among its 30 members, 2 stocks gained, 24 lost, and 4 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north curtailed 1.38 percent, or 0.98 points, to close at 70.09 points with 69 winners, 176 losers, and 51 stocks treading water. Around 24.33 million shares changed hands at a total value of VND223.21 billion.

Meanwhile, the UPCoM-Index of unlisted shares deleted 0.14 percent, or 0.05 points, to close at 36.44 points. A total of 231,318 shares changed hands at VND1.88 billion.

Related links: Real-time Boards: HOSE and HNX

By Thuy Doan

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