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Roundup: Vietnam's Hanoi stock market extends fall on sluggish trading

Xinhua, February 6, 2015 Adjust font size:

Vietnam's capital Hanoi stock market extended the falling trend with sluggish trading and low liquidity.

During the week, the HNX-Index, the benchmark of the Hanoi bourse, saw the lowest trading liquidity from the beginning of the year 2015, staying at around 18.57 million U.S. dollars on Thursday.

On Friday, HNX-Index lost 1.69 points or 1.98 percent from the previous week's close.

The index witnessed two ups and three downs during the week, posting the lowest level of 82.56 points on Tuesday and the highest level of 84.42 points on Monday.

Last week, the HNX-Index fluctuated between 85.56 points and 87. 23 points.

On Friday, the Hanoi bourse closed at 83.87 points, up 0.7 points or 0.84 percent against the previous trading session.

A total of 31.191 million shares worth 425.618 billion Vietnamese dong (19.94 million U.S. dollars) were traded at the Hanoi Stock Exchange on Friday, an increase of 3.16 percent in volume and 8.65 percent in value against the previous trading session.

Prices of 113 stocks went up, 75 stocks fell down, while 67 stocks remained unchanged.

Compared to the last trading session in 2014, the HNX-Index on Friday posted an increase of 0.89 points, or 1.07 percent.

During the week, the HNX-Index broke the level of 85 points following stock analysts' previous forecast, and even slipped down to the level of 82 points.

Analysts said technical data show that shares on the Hanoi bourse has come closely to the oversold zone. Therefore, the index is unlikely to witness a sharp fall in the short term.

The range of 85-85.5 points will be the resistant level of the HNX-Index if it recovers in the coming sessions, they said.

In another situation, according to the Hanoi stock market, in 2014, as many as 183 out of 203 listed companies on the bourse that reported their business results claimed profits.

Profit value of the 183 companies was reported at a total of 3. 453 trillion Vietnamese dong (162 million U.S. dollars), an increase of 31 percent compared to 2013.

Meanwhile, 20 companies reported losses of 378 billion Vietnamese dong (17.73 million U.S. dollars), down by around half of 2013.

Industrial sector saw the best business result with 35 percent of the total profit, followed by mining, oil, gas, and banking.

Construction sector reported 26 companies with profits of 75 billion Vietnamese dong (3.52 million U.S. dollars). Meanwhile, five other companies in the sector claimed losses of around 62 billion Vietnamese dong (2.91 million U.S. dollars). Endi