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Indices down; market liquidity up on bottom feeding
Shares continued on their downward slope Wednesday morning, with more than 81 per cent losing value on both exchanges, but bottom feeders boosted market liquidity.
On the HCM City Stock Exchange, the VN-Index lost more than 8 points, or 1.78 per cent over on Mar. 1's close, to finish today's session at 457.83.
The market volume soared nearly 93 per cent to 46.6 million shares while the value of the day's trades also jumped almost 67 per cent to VND974.6 billion (US$46.4 million).
Blue chips, including insurer Bao Viet Holdings (BVH), real estate firm Vincom Co (VIC) and Vien Dong Pharmaceutical (DVD), hit their ceiling prices, but they still failed to lift the index as losers outnumbered gainers by 245-19 overall, with half the losers dropping to the floor.
Other gainers to reach ceilings this morning were mostly mid-caps, including Sacomreal (SRC), Vinpearlland (VPL), tourism company Viet Nam Sun (VNS) and Interfood Shareholding (IFS).
Sai Gon Securities Inc (SSI) was again the most active share on the HCM City bourse with over 3.6 million stocks changing hands, but it closed at the bottom price of VND23,000 ($1.10).
On the Ha Noi Stock Exchange, the HNX-Index fell 4.19 per cent to close at 91.17 points.
Trading value more than doubled over on Mar. 1 to reach VND765.5 billion ($36.5 million) and trading volume also rose 59 per cent to almost 54 million.
Decliners outnumbered losers by 289-25, with half losers finishing the session at the floor prices.
Kim Long Securities (KLS), with a whopping 6.6 million shares changing hands, lost 6.2 per cent over yesterday to close at VND12,200 ($0.58).
VIETNAMNEWS
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