The VN-Index lost 0.32 point, or 0.08%, from the previous session to 426.19. Liquidity on the Hochiminh Stock Exchange stayed low with 30.1 million shares worth VND682 billion changing hands, up 8.8% and 17.5% from Friday’s session respectively.

The market opened sharply lower and quickly lost further ground to hit a new yearly intraday low of 419.98. It then reversed direction and rallied somewhat before a sharp 3.5-point jump at the close.

Demand fell a slight 0.82% to 43.8 million shares while supply dipped 22.3% to 41.6 million shares. Losers were nearly four times more than advancers at 178 to 46 stocks, of which six closed at the ceiling prices and 30 others plunged to the floor prices.

Sacombank (STB) once again led the market in terms of liquidity, moving sideways at VND13,900 per share on volume of 1.7 million shares. Tan Tao Investment Industry Corp. (ITA) was the second most traded stock but it shed 3.8% to VND12,800 with 1.2 million shares traded. 

Foreign trading recovered strongly  on Monday, with nearly 5.3 million shares worth VND214 billion acquired and 4.5 million shares worth VND153 billion sold off by foreign investors, accounting for 31.3% and 22.4% of the market’s buying and selling value respectively.

The Hanoi market fell back sharply again although turnover edged up to VND495 billion. The HNX-Index fell by 1.24 points, or 1.25%, from the previous session and ended the day at 97.86 points.

The market saw 45 stocks rising and 245 others sliding, with four of them shooting up to the ceiling prices and 33 others dropping to the floor. Foreigners boosted selling and accounted for 1.9% of the buying value and 8% of the selling value.

Fiachra Mac Cana, managing director of HCMC Securities Corp., said the markets closed fairly mixed  on Monday with another drop in the HNX-Index tempered by a very slight drop in the VN-Index. Volumes were slightly higher overall compared to Friday but in general remained anemic.

“The market dodged a bullet on Tuesday as poor CPI numbers failed to depress sentiment for long. However, on Tuesday’s events reinforce our view that the downside risk is limited now as the market seems to have discovered some resilience in the face of what is a lot of bad news,” Mac Cana said.

Vietnam International Securities Co. (VIS) said investor psychology improved despite the losing session  on Monday. Liquidity recovered slightly as buying power accelerated given cheap stocks.

“The strong buying power may help the VN-Index recover to important levels while foreign investors are also a support factor. However, as interest, forex and inflation rates still put heavy pressure on the market, the VN-Index may move flat  on Wednesday’s session,” VIS said.

Source: Saigon Times