Slumping market erodes liquidity

The VN-Index, a measure of 199 companies and four closed-end funds listed on the Ho Chi Minh Stock Exchange, fell 0.83 points, or 0.17 percent, to 477.59 on January 22.

The market saw severely low liquidity, which had just recovered the previous day.

Of the index, 64 stocks gained, 89 fell, and 56 remained unchanged. More than 30 million shares, worth VND1.23 trillion changed hands.

Saigon Commercial Bank or Sacombank (STB), which was unchanged at VND22,400, was the most active stock in volume with more than 1.3 million shares traded.

Next were Vietnam Export Import Bank or Eximbank (EIB), which saw more than 1.17 million shares traded at 0.86 percent down from the previous day or VND22,800; and Saigon Securities Inc. (SSI), which had 1.1 million shares traded at VND83,000.  Vietnam’s largest brokerage edged up 1.22 percent.

Nam Viet Co. (NAV), which manufactures building materials, lost 5 percent to VND13,300. Mineral exploiter Hamico Group dropped 4.97 percent to VND42,100.

The northern market also stayed in the red as the HNX-Index slumped 0.04 percent, or 0.06 points, to close at 157.58.

Total trading volume reached more than 19.3 million shares, worth VND596.4 billion where 153 stocks advanced, 24 were unchanged, and 73 dropped.

The UPCoM-Index gained 0.59 percent, or 0.3 points, to 51.49. A total of 48,870 shares worth VND722.3 million were traded.

By Da Nguyet

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