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Shares tumble but liquidity reaches one-month high

HÀ NỘI — Shares tumbled on Wednesday after a two-day increase but liquidity soared to the highest level in the past month, demonstrating the re-ignited interest of investors in the stock market since its bottom in July.

On the Hồ Chí Minh Stock Exchange, the VN-Index decreased 0. 三 四 per cent to close the day at  一, 三 五 七. 七 九 points.

On the Hà Nội Stock Exchange, the HNX-Index edged down 0. 一 九 per cent to end at  三 三 四. 四 四 points.

Both stock indices increased in the last two sessions.

Liquidity improved with  九 五 六 million shares worth a total VNĐ 二 九. 八 trillion (US$ 一. 三 billion) traded in the two markets, up  九 per cent in volume and  一 一 per cent in value compared to the previous session. Particularly, the trading value on HCM City’s bourse reached the highest since July  一 二 when the VN-Index dropped to its bottom of  一, 二 九 六 points.

“The mixed ups-and-downs after the VN-Index went up for nine consecutive sessions is a normal movement. The positive point is the market liquidity is improving gradually, indicating that the money is coming back,” market analysts wrote on vietstock.vn.

Realty shares were the drag on Wednesday when heavyweight shares such as Vingroup (VIC), Novaland Investment (NVL) and Vinhomes (VHM) slumped.

VIC led the losers with a drop of  一. 八 per cent. VHM decreased 0. 九 per cent and NVL fell 0. 七 per cent.

On the other end of the spectrum, banks continued to sustain the market. 

Vietcombank (VCB), VPBank (VPB) and TienPhongBank (TPB) were among the top  五 shares contributing to the VN-Index growth. VCB was up  一. 五 per cent; VPBank (VPB) up  一. 二 per cent and TienPhongBank (TPB) up  二. 八 per cent.

However, from the perspective of the whole banking industry, divergence still took place. Decliners included big names such as BIDV (BID), Vietinbank (CTG), Asia Co妹妹ercial Bank (ACB) and Ho Chi Minh Development Bank (HDB).

Fifteen of the  二 五 sectors tracked by vietstock.vn declined and  一0 advanced. Small-cap industries such as transportation and warehousing and households were in a fever with many shares climbing to or near the ceiling.

“With the above trend, the VN-Index is expected to continue moving in the range of  一, 三 五0- 一, 三 八0 points,” said analysts at BIDV Securities Co in their daily report.

Foreign investors were net sellers on both exchanges, offloading shares worth a total VNĐ 七 六0 billion. — VNS