The market opened higher and quickly moved up to the daily high of 475.45 before dropping back in several stages. It fell into the red from the end of the second session before staging a short-lived recovery and finally closing at above the daily low.
On the southern bourse, there were 81.4 million shares worth nearly VND1.3 trillion traded at the end of the day, rising 19% and 8% against the previous day respectively. Bids fell a mild 6.7% to around 120 million shares while offers soared 37.5% from the day earlier to 117.4 million shares.
Losers slightly outnumbered gainers by 138 to 107, of which 50 stocks shot up to the ceiling prices and 40 stocks dropped to the floor prices. Blue-chips were mostly lower across the board albeit with some exceptions such as MSN, BVH and VCF.
Sacom Development and Investment Corp. (SAM) was the most traded stock for liquidity, inching up 1.3% against the previous day to VND7,400 per share with 4.3 million shares traded. PetroVietnam Transportation Corp. (PVT), the second biggest traded stock, gained 1.9% to VND5,300 on the volume of 2.8 million shares.
Foreigners once again increased net selling. They acquired 6.4 million shares worth VND202.7 billion and offloaded 11.1 million shares worth VND325.4 billion, making up 15.7% and 25.2% of the market’s buying and selling value respectively.
The Hanoi market fell back on Wednesday although turnover improved to over VND1 trillion. The HNX-Index fell 1.92 points, or 2.42%, against the previous session and ended the day at 77.33.
Advancers and decliners were almost equal at 164 to 145, including 49 stocks going to the ceiling prices and 12 stocks dropping to the floor. Foreigners were slight net sellers again, accounting for 1.1% of the buying value and 2% of the selling value.
Viet Dragon Securities Co. in its daily comment said profit taking surged strongly on the two bourses while buyers turned cautious again on Wednesday. Furthermore, the broker noted another negative sign as foreigners maintained heavy net selling for three sessions in a row.
There were around 1.6 billion shares worth VND20 trillion changing hands on the two markets since the lowest level in August, putting a huge volume of shares under heavy selling pressure given no new supporting information. However, the VN-Index would enjoy positive news from low CPI (consumer price index) in September. It might continue correcting and then hover around 440 points, the broker predicted.
via www.WeOnTech.com
