Stock Markets Stagnant

Stock Markets slow as the total volume in both Ho Chi Minh City and Ha Noi sags. 

 At this morning’s session at the HCM Bourse, trading activities continued slowing as only 6.97 million of shares and fund certificates equivalent to VND671,87 billion changed hands, of which, Saigon Securities (SSI), Sacombank (STB) and VINCOM (VIC) made up of 33 percent of the total volume. The VN-Index rose slightly by 0.17 points and to close at 974.63.
 
A large volume of SSI and STB shares were purchased at their reference prices, inciting investors to believe the stock market was getting bullish again. In fact, purchasing power on the market did not actually rise. It just seemed to rise because of a strong decrease in the volume of sold-out shares as investors waited for the right time to act. 
 
This also explained a slight rise of VND2,000 in some blue chips like SSI, FPT Corporation (FPT), REE Technology (REE) and Schenker- Gemadept Logistics (GMD). 
 
Pha Lai Thermol Power (PPC) and Vinh Son Hydro Electricity (VSH) have more than 451 million of shares in circulation in total, yet only 109,502 were traded.
 
Nam Viet – Navico (ANV)’s IPO suffered losses as they were traded at 16 percent lower than the price set by ANV at the beginning of the trading session. However, a volume of ANV shares worth more than VND43.28 billion changed hands in the end, accounting for 6.45 percent of the market’s total volume.
 
At the Ha Noi bourse, a number Song Da stocks like SDD, SDT and SJE attracted investors’ attention again when hundreds of shares changed hands, making up half of the market’s volume. It seemed investors were not interested in trading their shares, but keep their eyes on big caps and waiting for unexpected developments in the year-end.  

By Tuong Chau – Translated by Phuong Lan

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