Appetite for shares grows on back of week’s fall

May 27, 2011 | 14:00

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Demand for shares significantly rose Friday, while supply partly reduced after yesterday’s sudden market rebound.

Blue-chips were strongly bid at high prices. All offer orders for Bao Viet Holding (BVH), Masan Group (MSN), Vincom Corp. (VIC), Vietcombank (VCB) and Vinamilk (VNM) were matched, pushing those five stocks hitting the ceiling.

Saigon Securities Inc. (SSI) also saw no offer orders remaining at the session’s end. The stock was among top active with more than 2.6 million shares traded today.

Eximbank (EIB) was unchanged after outperforming the market with more than three million shares changing hands.

“At the moment, some good shares that were undervalued had attract investors,” said Au Viet Securities.

The benchmark VN-Index of the Ho Chi Minh Stock Exchange (HoSE) gained up to 12.78 points or 3.21 per cent to 410.82 points.

Some 197 stocks advanced with 109 hitting the ceiling on the southern bourse, while just 46 declined with 12 hit the floor.

Liquidity reduced back to 29.9 million shares worth VND514 billion ($24.8 million), down some 36 per cent, partly as investors remained skeptical in the face of a too sudden market rebound.

On the Hanoi Stock Exchange (HNX), 267 stocks were up with 184 hit the ceiling overwhelming 46 ending lower. The benchmark HNX-Index advanced 0.49 points or 0.7 per cent to 70.83 points.

Liquidity also sharply fell 46 per cent to 31.85 million shares, with values reaching VND340.49 billion ($16.5 million).

By Hai Linh

vir.com.vn

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