Banking stocks make noise in quiet market

Up to 5.5 million Military Bank (MBB) shares were negotiated. Sacombank (STB) and Eximbank (EIB) saw put-through volumes hit 4.6 million and 3.4 million units, respectively.

MBB gained, STB was unchanged while EIB fell.

Those stocks boosted put-through volume to 17.4 million shares worth VND261 billion ($12.6 million). Total trading volume was of 35 million shares worth VND492.4 billion ($23.8 million).

Meanwhile, the market continued its lackluster trend on macroeconomics uncertainties. Several large-cap stocks fell today, led by Vinamilk (VNM), Vietinbank (CTG), Vietcombank (VCB) and Bao Viet Holdings (BVH).

Saigon Securities Inc. (SSI) and PetroVietnam Finance (PVF) modestly slipped.

Nearly half the market declined, with 137 stocks off and 79 advancing. Some 21 stocks saw no transactions.

The benchmark VN-Index of Ho Chi Minh Stock Exchange (HoSE) lost 0.41 points or 0.11 per cent to 382.9 points.

The Hanoi Stock Exchange (HNX) also saw a gloomy session, with HNX-Index turning back to fall 0.53 points or 0.86 per cent to 61.38 points. Some 155 stocks declined and up to 127 stocks saw no transactions, compared with just 61 up and 177 unchanged.

Speculative stocks like VNDirect Securities (VND), Kim Long Securities (KLS), PetroVietnam Construction (PVX), Vietnam Construction and Import-Export (VCG) were strongly sold out, as investors locked in profits after those stocks jumped yesterday.

KLS lost 2.91 per cent, VND 3.85 per cent, PVX 2.27 per cent and VCG off 2.88 per cent. Also, a mass of major stocks like PetroVietnam Southern Gas (PGS), SongDa Infrastructure Construction (SDH), Habubank (HBB) strongly dropped.

Liquidity sunk to 22 million shares worth VND215.5 billion ($10.4 million).