Blue chips colour the market

The VN-Index of Ho Chi Minh Stock Exchange (HoSE) gained up to 6.81 points or 1.78 per cent to 388.57 points. Hanoi’s HNX-Index advanced 0.36 points or 0.58 per cent to 62.1 points.

Investors seemed to be calm down today after continuously bailing out shares in the three previous sessions. They came back to bid for major stocks on speculation about a short market recovery.

Pillars Bao Viet Holdings (BVH) and Masan Group (MSN) both hit the ceiling, while the real estate giants Vincom Corp. (VIC) and Vinpearl Tourism and Trading (VPL) sharply jumping.

Several financial stocks saw big gains, among them Vietinbank (CTG) and PetroVietnam Fertilizers both hit the ceiling. Eximbank (EIB) significantly advancing, while Saigon Securities Inc. (SSI) and Vietcombank (VCB) slightly added.

On Hanoi Stock Exchange (HNX), demand for major stocks Kim Long Securities (KLS), VNDirect (VND), PetroVietnam Construction (PVX) was also increased. Those stocks all significantly rose with 2-3 million units matched each.

Advancers strongly outran decliners on both the two bourses. Up to 153 stocks gained on the Hose with 59 hitting the ceiling, while just 57 stocks were off. Also, some 155 stocks were up on the HNX, compared with 71 declining.

However, liquidity remained weak. Trading value stood at VND518.9 billion ($25.1 million) on HoSE, of which up to VND209.2 billion ($10.1 million) were negotiated.

The poor liquidity was even worse on the HNX, where just 24 million shares worth VND228.5 billion ($11 million) changed hands.

Real estate stocks still largely fell, led by Song Da Urban & Industrial Zone Investment and Development (SJS) and Quoc Cuong Gia Lai (QCG) both hitting the floor. Petroleum Pipeline & Tank Construction (PXT), Petroleum Equipment Assembly and Metal Structure (PXS), HUD3 Investment and Construction (HU3) also sharply declined.

Sacombank (STB) also fell after continuously gaining on its share buyback plan. Up to 7 million the shares had been negotiated today, boosting the total volume of STB negotiated since the bank started to buy back its shares to more than 22 million shares.

Trang An Securities (TAS) was strongly sold today after the brokerage was warned by Vietnam Securities Depository for its failure to settle some of its transactions.