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Stocks retreat on investor caution
Stocks failed to hold gains by the day's end as investors stayed cautious ahead of the 2014 earnings report for listed companies and probable risks from Circular 36, which is expected to restrain lending for stock investments.
On the HCM City Stock Exchange, the benchmark VN-Index lost more than 3 points, or 0.57 per cent, closing yesterday's session at 571.51 points.
Blue chips led the downturn as over half of the top 30 shares by market value and liquidity declined with the VN30 down 0.5 per cent to end at 611.64 points.
Phu My Fertiliser (DPM) was the biggest loser, down 5.3 per cent and finishing at VND30,600 (US$1.43) a share. Other large-cap shares like Vietcombank (VCB), Hoang Anh Gia Lai Co (HAG), Bao Viet Holdings (BVH), Saigon Securities Inc (SSI) and FPT Corp (FPT) also slumped between 0.6 and 2.5 per cent.
Liquidity was low, with the market volume reaching just 88.4 million shares worth VND1.5 trillion ($70.1 million), down 20 per cent in volume and 10 per cent in value compared with Friday's figures.
FLC Group (FLC) remained the most active code, trading 7.3 million shares. But the share price dropped 2.7 per cent to VND10,800 a share.
On the Ha Noi Stock Exchange, the HNX-Index also dipped 0.11 per cent to close at 85.26 points, with the negative market condition of 82 stocks rising, 105 decreasing and 173 staying flat.
The HNX30, which tracks the top 30 shares by market liquidity here, also sank 0.41 per cent to stand at 166.38 points.
Liquidity kept declining and hit a five-month low. Both market volume and value dropped 10 per cent from Friday, totalling more than 41 million shares worth nearly VND631 billion ($29.5 million).
FLC Joint Venture Global Investment Co (KLF) was the most active stock, with 7.8 million shares. But its price fell 1.7 per cent to settle at VND11,500 each.
Foreign investors concluded as net buyers in HCM City, picking up shares worth VND43.3 billion ($2 million), but they were net sellers in Ha Noi with a whopping VND118 billion ($5.5 million). Their selling focused on Tien Phong Plastics (NTP), which is worth nearly VND134 billion ($6.3 million), the highest level since January 2014.
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