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Banking & Finance

Indexes down on first day of 'ghost month'

Released at: 18:45, 03/08/2016 Stock Market Watch

Indexes down on first day of 'ghost month'

First day of lunar calendar known throughout Asia as a time not to invest or make big decisions, August 3 on the solar calendar, sees all indexes closing lower.

by Hung Khanh

All main indexes on Vietnam’s stock market lost ground on August 3.

On HSX the VN-Index fell 4.44 points (0.7 per cent) and the VN30-Index 12.25 points (1.93 per cent) while on HNX the HNX-Index was down 0.5 points (0.61 per cent) and the HNX30-Index 0.84 points (0.57 per cent).

The UpCoM Index also fell, by 0.52 points (0.95 per cent).

HSX saw 72 shares increasing and 137 decreasing while HNX saw 109 increasing and 126 decreasing.

Today is the start of the “ghost month”, a period in the lunar calendar when many Asian investors avoid making big investments and when many individuals don’t make major decisions such as buying a car, getting married, or moving to a new house. This may have held true for Vietnam’s stock market today as liquidity on HNX was VND410 billion ($18.38 million), down 12 per cent against yesterday, and on HSX was VND1.7 trillion ($76.21 million), down 34 per cent.

The VN-Index opened at 636.05 points and dipped to 632.50 points early on before recovering to 634.65 points mid-session. It then fell to 630.41 points then increased 633.21 points before closing at 631.02 points. The afternoon session began positively, with the index quickly reaching 632.95 points before tumbling to a bottom of 627.81 points in the middle of the session then recovering to close at 631.61 points.

Among the largest caps, VNM went against the trend by rising 1.3 per cent, with strong support from foreign investors, who net bought by VND22 billion ($986,260). Trade in VNM was the second highest on HSX, with some VND101 billion ($4.52 million) changing hands.

VIC fell 3.3 per cent.

Among banking shares on HSX, only MBB and BID closed at their opening price while VCB fell 1.94 per cent, STB 0.9 per cent, EIB 0.88 per cent and CTG 0.58 per cent.

All oil and gas shares on HSX closed down, with ASP losing 5 per cent, GAS 0.84 per cent, CNG 0.77 per cent and PGD 0.22 per cent.

On HNX, PVS, SHB, PTI and DBC closed at their opening price. VCS was the only share to rise, by 1.3 per cent, while all other large caps closed down - VCG by 2.1 per cent, ACB 1.1 per cent, PHP and NTP 0.5 per cent and PVI 0.4 per cent.

Foreign investors net bought on HSX by VND174 billion ($7.8 million) and by VND18 billion ($806,940) on HNX.

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