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Shares slump on low liquidity

HÀ NỘI — Shares declined on Wednesday on both national stock exchanges on low liquidity.

On the Hồ Chí Minh Stock Exchange, shares moved from positive in the morning to negative in the afternoon. Ending the day, the VN-Index decreased 0. 四 四 per cent to close at  九 九 三. 三 六 points.

The southern market’s index saw a brief recovery on Tuesday after four consecutive sessions. It has lost  二. 六 per cent this week.

Investor’s wariness showed in low liquidity with just  四 四 八 million shares worth more than VNĐ 八 trillion (US$ 三 二 五 million) being traded, down around  四0 per cent in both volume and value compared to Tuesday’s figures.

Real estate was the group that mostly dragged the market when the industry’s blue chips such as Vingroup (VIC), Vinhomes (VHM), Vincom Retail (VRE), No Va Land Investment Group (NVL), Phát Đạt Real Estate Development (PDR) and Becamex IDC Corp (BCM) all lost value, of which VRE was the biggest loser, down  三. 五 per cent; followed by VIC, VHM and PDR each down over  二 per cent.

Besides, many large-cap stocks such as Viglacera (VGC), Hòa Phát Group (HPG) and Sabeco (SAB) also slumped, pulling down the market.

On the bright side, growth of Masan Group (MSN) which increased  四 per cent, became the biggest market puller. Other contributors included lender BIDV (BID), PV Gas (GAS), Eximbank (EIB), insurer Bảo Việt Holdings (BVH), VPBank (VPB), Asia Co妹妹ercial Bank (ACB) and FPT Corp (FPT) with growth of less than  一 per cent.

According to Viet Dragon Securiteis Co, the supply cooled down around the short-term support level of  九 六0 points, creating efforts for the market to recover. However, the psychological level of  一,000 –  一,0 一0 points temporarily acts as a strong resistance zone, reflected in the high liquidity when the market approaches this area and retreats in the afternoon.

“This shows that the supply is still dominant, and the current support signal is unconvincing, so it is still necessary to be cautious about the risk of weakening again from the resistance zone of  一,000 -  一,0 一0 points of the VN-Index,” analyst Phương Phạm said in a note.

On the Hà Nội Stock Exchange, the HNX-Index recorded a sixth declining session, losing  一 per cent to end at  二0 五. 九 五 points. The northern market’s index has lost  九 per cent since October  一 八.

Liquidity fell sharply when just  四 五 million shares worth VNĐ 六 二 四 billion being traded, down over  四0 per cent in both volume and value compared to the previous session. — VNS