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Banking & Finance

Market up on low liquidity

Released at: 17:07, 17/12/2015 Stock Market Watch

Market up on low liquidity

Slow day of trade ends with Indexes up slightly.

by Hung Khanh

The VN-Index reached 579 points during the very first matching of the morning session then fluctuated around 575 points before increasing in the final 20 minutes of the afternoon session to close at 577.11 points, an increase of 4.56 points, or 0.8 per cent. Trade was slow, however, with only around 82 million shares valued at VND1.4 trillion changing hands via matching order, while some 8.3 million shares worth VND183.31 billion ($8.13 million) were traded via put through. The market saw 130 shares increasing and 77 decreasing.

A factor in the lower liquidity was BID seeing much less trade today compared to yesterday, at some 1.9 million shares valued at VND41 billion ($1.18 million). While higher than its normal trade it was significantly lower than yesterday, when it was VND132 billion ($5.85 million). Foreign investors net sold the share, at VND1.52 billion ($6.74 million), but solid demand among domestic investors ensured it increased 4.37 per cent, exceeding yesterday’s 3 per cent.

Banking shares all increased, except NVB, which fell 6.6 per cent on HNX. Increases were mostly around the 1 per cent mark, with VCB rising 1.15 per cent, CTG 1.62 per cent, MBB 0.71 per cent, STB 0.87 per cent, and EIB 0.89 per cent. HNX saw ACB up 1.04 per cent and SHB 3.17 per cent.

The VN30-Index today saw active trade at the opening of the morning session, reaching nearly 590 points before heading downwards and closing at 586.37 points at the end of the day, for an increase of 2.50 points, 0.43 per cent, overall. It saw 21 shares increasing and six decreasing.

Larger caps on the VN-30 index that fell yesterday continued the same pattern today, with MSN down 1.45 per cent, SSI 0.44 per cent, and KDC 1.54 per cent.

MSN is now trading at its lowest price since 2010, with relatively high trade in the afternoon session of some of VND39 billion ($1.73 million). Foreign investors continued to net sell today, at VND47.3 billion ($2.09 million). Unlike the beginning of November, when buyers stepped in when foreign investors deserted MSN, sales accounted for 91.4 per cent of its liquidity today.

BVH increased significantly, to its ceiling of 6.43 per cent, with nearly 1 million shares changing hands. Foreign investors net sold the share, at VND22.59 billion ($1 million), with strong buying seeing it reach its ceiling by close.

Today was a good day for insurance shares, with most increasing. BMI was up 3.59 per cent, BIC 2.04 per cent, and PGI 2.35 per cent. On HNX PVI increased 2.98 per cent while VNR lost 0.45 per cent and PTI closed at its opening price.

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