Bourse trampolines after falls

August 03, 2012 | 10:31

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The market significantly rebounded Thursday with many stocks gaining, while liquidity dried out.

The VN-Index rose 3.55 points or 0.86 per cent to 416.1 points on the Ho Chi Minh Stock Exchange (HoSE).

Meanwhile, the HNX-Index added 0.28 points or 0.41 per cent to close at 68.98 points on the Hanoi Stock Exchange (HNX).

The rise was helped much by a number of large-cap stocks. Key pillar stocks Vinamilk (VNM) hit the ceiling after its announcement of dividend payment. Vincom Group (VIC) rose 2.61 per cent. Masan Group (MSN) and PetroVietnam Gas (GAS) also slightly climbed.

Several stocks turned head to rise, mainly mid-cap and small-cap stocks. Advancers outran decliners 135 to 72 on the southern bourse.

Real estate and construction stock Vietnam Electricity Construction (VNE) was up 1.37 per cent, Ninh Van Bay Real Estate (NVT) 2.33 per cent, Duc Long Gia Lai Group (DLG) hit the ceiling, while International Development and Investment Corp (IDI) up 2.56 per cent.

Steel stocks Pomina Steel Corp. (POM) and Hoa Sen Group (HSG) modestly rallied. Some mineral stocks still advanced, while most stocks in sectors had turned head to fell.

Meanwhile, the market’s sentiment was gloomy. Matching values even fell to VND280.2 billion ($13.5 million) on the HoSE today, while total trading value reaching as low as VND330.8 billion ($16 million).

The global bank HSBC announced yesterday its Vietnam Manufacturing PMI Index, had fallen to the lowest level since April, 2011. The announcement underscored on fears of downturn economy, keeping investors staying on the market sidelines.

Banking stocks like Vietcombank (VCB), Eximbank (EIB), Military Bank (MBB) largely ended flat on the HoSE. Sacombank (STB) and Vietinbank (CTG) slightly added.

Advancers also outran decliners on the HNX 126 to 66, but most leading stocks stayed unchanged or slightly shed. VNDirect Securities (VND), Habubank (HBB) and Asia Commercial Bank (ACB) all ended flat. Saigon-Hanoi Bank (SHB) added 1.19 per cent.

Transaction kept very weak. Matching volume of top-active VNDirect Securities (VND) reached just more than 2 million shares, followed by Saigon Commercial Real Estate (SCR) and PetroVietnam Construction (PVX) at some 1.5 million shares each.

Matching value fell to just VND153.9 billion ($7.4 million) on the southern bourse. Put-through volume helped the liquidity reach 26.1 million shares worth VND431.2 billion ($20.8 million).