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An investor at Bảo Việt Securities Co's trading floor in Hà Nội. The VN-Index decreased 0.44 per cent to close yesterday at 993.36 points. — VNA/VNS Photo
clined on Wednesday on both national stock exchanges on low liquidity.
On the Ho Chi Minh Stock Exchange, shares moved from positive in the morning to negative in the afternoon. Ending the day, the VN-Index decreased 0.44 per cent to close at 993.36 points.
The southern market’s index saw a brief recovery on Tuesday after four consecutive sessions. It has lost 2.6 per cent this week.
Investor’s wariness showed in low liquidity with just 448 million shares worth more than VND8 trillion (US$325 million) being traded, down around 40 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), Phat Dat Real Estate Development (PDR) and Becamex IDC Corp (BCM) all lost value, of which VRE was the biggest loser, down 3.5 per cent; followed by VIC, VHM and PDR each down over 2 per cent.
Besides, many large-cap stocks such as Viglacera (VGC), Hoa Phat Group (HPG) and Sabeco (SAB) also slumped, pulling down the market.
On the bright side, growth of Masan Group (MSN) which increased 4 per cent, became the biggest market puller. Other contributors included lender BIDV (BID), PV Gas (GAS), Eximbank (EIB), insurer Bao Viet Holdings (BVH), VPBank (VPB), Asia Commercial Bank (ACB) and FPT Corp (FPT) with growth of less than 1 per cent.
According to Viet Dragon Securiteis Co, the supply cooled down around the short-term support level of 960 points, creating efforts for the market to recover. However, the psychological level of 1,000 – 1,010 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 1,000 - 1,010 points of the VN-Index,” analyst Phuong Pham said in a note.
On the Ha Noi Stock Exchange, the HNX-Index recorded a sixth declining session, losing 1 per cent to end at 205.95 points. The northern market’s index has lost 9 per cent since October 18.
Liquidity fell sharply when just 45 million shares worth VND624 billion being traded, down over 40 per cent in both volume and value compared to the previous session. — VNS