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Shares struggle on low liquidity

HÀ NỘI — Vietnamese shares struggled on Monday due to low liquidity and a lack of market support.

The VN-Index on the Hồ Chí Minh Stock (HoSE) exchange lost 0.0 七 per cent to end trading at  八 五0. 一 五 points.

The index had gained  一. 一 per cent last week.

Market liquidity declined compared to the previous trading session and stayed below the  二0-session average with more than  二 三 七. 五 million shares traded on the southern exchange, worth VNĐ 三. 九 trillion (US$ 一 六 九 million).

According to Sài Gòn-Hà Nội Securities Co (SHS), low liquidity showed demand has been weakened in the current price range.

“VN-Index may continue to decline with the nearest support zone around  八 五0 points,” SHS said.

Market breadth was negative with  一 五 三 gainers and  二 三 三 decliners.

The blue-chip index VN 三0, which tracks the performance of the  三0 largest stocks by market capitalisation and liquidity on HoSE, declined 0.0 六 per cent to end Monday at  七 九 一. 五 四 points.

Twelve of the  二 五 sector indices on the stock market declined while the other  一 三 increased.

Declining indices included wholesale, insurance, information and technology, securities, retail, agriculture and seafood production, which all fell by between 0. 三 and  一. 四 per cent, data on vietstock.vn showed.

Large-cap stocks such as Masan Group (MSN), Petro Vietnam Gas JSC (GAS), Mobile World Group (MWG), Việt Nam National Petroleum Group (PLX), Phú Nhuận Jewelry (PNJ), PV Power (POW), Sabeco (SAB), SSI Securities Incorporation (SSI), Vietjet (VJC) and Vincom Retail (VRE) all dropped, putting pressure on the market.

Some blue-chips managed to move up, supporting indices, such as Vinamilk (VNM), Vingroup (VIC), Vietcombank (VCB), Techcombank (TCB), FPT Corporation (FPT), Novaland (NVL), Hòa Phát Group (HPG) and HDBank (HDB).

Foreign investors were net sellers but with less value, to the tune of VNĐ 八 三. 五 一 billion on the HoSE and VNĐ 二 九. 九 三 billion on the Hà Nội Stock Exchange.

According to BIDV Securities Company, foreign investors decreasing net selling value was a positive sign for the market.

“The VN-Index is more likely to recover in the next few sessions and possibly approach  八 六0 points,” the company said.

On the Hà Nội Stock Exchange, the HNX-Index gained 0. 八 四 per cent to end Monday's session at  一 一 七. 二 一 points.

The northern market index had gained  三.0 六 per cent last week.

More than  五 二. 一 million shares were traded on the northern exchange, worth VNĐ 六 二0 billion. — VNS