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Market activity dries up
The Ho Chi Minh City stock market on April 3 repeated the same story of the past week or so, with trading once again slowing to a trickle in the wake of the move by the State Securities Commission last month to restrict the rise or fall of shares in a single trading session to plus-or-minus 1 percent.
The VN-Index once again posted nearly the maximum allowable gains on the day, rising 0.78 percent to close at 529.23.
But trading volume continued anaemic, which only 1.9 million shares traded. Value of the day’s trades totalled only 95.19 billion VND (5.9 million USD), of buy orders continuing to match sell orders by a two-to-one margin, a pattern that has been repeated daily for the past week.
Thuan An Wood Processing (GTA) was the only declining share, as the exdate for its dividend payment passed order to avoid unexpected behaviour from investors.
The State Securities Commission seemed to hear the suggestion, deciding on April 3 afternoon, following the close of trading, to raise the daily trading on April 7 band on both the Ho Chi Minh City and Hanoi bourses by 1 percent.
Accordingly, the trading band on the Ho Chi Minh City Stock Exchange will become 2 percent effective on Monday, and that at the Ha Noi Securities Trading Centre will become 3 percent.
The Hanoi market on April 3 continued its seventh gaining session with the HASTC-Index closing up 1.40 percent to 190.32. Trading turnover ended higher than April 2’s session, at 24.79 billion VND (1.5 million USD), on a volume of 489,800 shares, although several codes saw no trading activity in the session.
VNA
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