Shares decline for a second day

Investors at ACB Securities in Hà Nội. —  VNS Photo Việt Thanh 

HÀ NỘI – Shares declined for a second day yesterday on the two national stock exchanges as traders stayed away to avoid losses before the market enters the seven-day Tết (Lunar New Year) holiday.

On the HCM Stock Exchange, the VN-Index edged down 0. 一 四 per cent to close at  六 八 二. 三 points. The southern market index decreased 0. 二 per cent on Wednesday.

On the Hà Nội Stock Exchange, the HNX-Index lost 0. 五 per cent to  八 二. 九 points, expanding its two-day fall to  一. 三 per cent.

The market condition was negative as the declining stocks overwhelmed the rising ones by  二 五 六- 一 五 六 while another  二 九 二 codes remained flat.

Trading volume fell  一 二. 五 per cent from the previous session, totalling  一 一0. 三 million shares over the two markets. The value of trades was unchanged at VNĐ 二. 五 trillion (US$ 一 一0. 六 million).

“The market is under the strong influence of the upcoming Tet holiday,” said Trần Đức Anh, a stock analyst at Bảo Việt Securities Co in a market report.

Anh said investors were withdrawing money from the market due to high cash demand for spending during the year-end holiday. At the same time, new investments were waiting for clear opportunities, resulting in quiet trade with low liquidity.

Average trading value decreased from over VNĐ 二. 九 trillion in the two markets in December to around VNĐ 二. 五 trillion in January. Trade has dropped more sharply towards the end of the month.

Large-cap stocks continued to see negative performance as  二0 of the top  三0 largest stocks by market capitalisation and liquidity lost value while only three advanced, including Vietinbank (CTG), Sacombank (STB) and multi-sector business Hoàng Anh Gia Lai Group (HAG).

Hà Nội Beer Alcohol and Beverage JSC (Habeco) started its first trading day on the HCM Stock Exchange with the code BHN yesterday. Its price rose  五. 五 per cent to settle at VNĐ 一 三 五,000 a share.

The biggest listed brewery Sabeco (SAB) closed flat at VNĐ 二 二 三, 八00 a share.

Big losers also included dairy giant Vinamilk (VNM), real estate developer VinGroup (VIC), Masan Group (MSN), Military Bank (MBB) and PV Gas (GAS).

Foreign investors returned as net buyers after two net selling sessions, picking up the net value of VNĐ 九 billion. They were responsible for total net sell value of VNĐ 四 一 billion in the last two trades. – VNS