Banking shares in vogue

October 17, 2012 | 17:00

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The put-through value of banking shares on Ho Chi Minh Stock Exchange (HoSE) suddenly surged Wednesday with improving market liquidity.

Some 35.1 million shares worth VND450 billion worth of shares were negotiated this session, among them 10 million Sacombank (STB) shares, 6.3 million Military Bank (MBB) shares and 4 million Eximbank (EIB) shares.

The value pushed HoSE’s liquidity to 59.1 million shares worth VND890.1 billion ($43 million).

Meanwhile, HNX had 32.2 million shares worth VND211.1 billion ($10.2 million) changing hands. Matching values stayed modest on both bourses, totaling VND644 billion ($31.1 million).

Two benchmarks significantly fell today after yesterday’s rally on cautious sentiment of investors. Pennies largely dropped as investors locked in profits. Decliners strongly outran advancers 142 to 64 on HoSE and 100 to 78 on HNX.

Of the most active tickets, penny stock Vietnam Electricity Construction (VNE) was off 3.03 per cent, Sao Mai Construction Corp. (ASM) 2.25 per cent, PetroVietnam-Idico Long Son Industrial Park Investment (PXL) 3.13 per cent, Duc Long Gia Lai Group (DLG) 2.56 per cent. Mineral stocks Tay Bac Minerals Investment (KTB) slipped 2.67 per cent while Binh Dinh Minerals (BMC) hitting the floor.

Some large-cap stocks also significantly fell, among them real-estate giant Song Da Urban & Industrial Zone Investment and Development (SJS) losing 2.5 per cent, while securities companies shares Saigon Securities Inc. (SSI) and Bao Viet Holdings (BVH) fell some 2.5 per cent each. Vietinbank (CTG) dropped 3.43 per cent.

At the close, VN-Index shed 2.2 points or 0.55 per cent to 397.02 points. HNX-Index slipped 0.35 points or 0.62 per cent to 55.93 points.

However, several tickets remained rallying in terms of both price and trading volumes. Tan Tao Investment Industry Corp. (ITA) and Kinh Bac City Development Share Holding Corp. (KBC) both significantly gained, Southern Rubber Industry (CSM) strongly surged 2.58 per cent with 1.6 million shares on its higher-than-expected third quarter profits.

A number of small-cap and mid-cap stocks like Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), Development Investment Construction (DIG), Lao Cai Mineral Exploitation & Processing (LCM), Vegetable Oil Packing (VPK) still jumped with hundreds of thousands units matched.