Blue-chips muscle up bourse

August 17, 2012 | 15:00

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The blue-chips drove up the market Friday, but liquidity remained weak.

Several blue-chips suddenly rallied supporting the market, with key pillar stock PetroVietnam Gas (GAS) outperformed the Ho Chi Minh Stock Exchange (HoSE) with 2.4 million shares matched. The stock rose 3.74 per cent.

Eximbank (EIB) followed with 2.1 million shares matched, advancing 1.49 per cent.

PetroVietnam Drilling and Well Services (PVD), PetroVietnam Fertilizers (DPM) saw big gains, while some banking stocks like Vietinbank (CTG), Vietcombank (VCB) also slightly climbed.

The gains of blue-chips expanded to other stocks. Numerous speculative stocks turned head to rise, among them real estate pennies Sao Mai Construction Corp. (ASM), Urban Development and Construction Corp. (UDC), Fecon Foundation Engineering and Underground Construction (FCN), hitting the ceiling.

The penny Vegetable Oil Packing (VPK) hit the ceiling again.

Advancers amounted to 154 stocks, making half of the market. Some 63 stocks declined on the southern bourse. The benchmark VN-Index gained 2.62 points or 0.61 per cent to 433.45 points.

HoSE’s rise positively impacted Hanoi Stock Exchange (HNX), helping the benchmark HNX-Index up after two straight failing sessions. The benchmark added 0.41 points or 0.59 per cent to 70.35 points.

Advancers outran decliners 120 to 73 on the southern bourse.

But liquidity did not improve much. HoSE’s total liquidity reached 37.8 million shares worth VND713.1 billion ($34.4 million). The figure was of as low as 29.7 million shares worth VND281.2 billion ($13.6 billion) on the northern bourse.

HNX’s leading stocks remained sluggish. VNDirect Securities (VND) and Kim Long Securities (KLS) just slightly added. PetroVietnam Construction (PVX) and Saigon Commercial Real Estate (SCR) stayed unchanged. Saigon-Hanoi Securities (SHS) ended flat also.

Saigon-Hanoi Bank (SHB) sunk 15.05 per cent today. Its trading collar was broadened in the ex-right date. Whereas, some speculative stocks like Vietnam Construction and Import-Export (VCG), Petrolimex Petrochemical (PLC) and Vinh Khanh Cable Plastic Corp. (VKC) jumped.