Cash acts as lubricant

October 11, 2012 | 17:00

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Cash flow significantly improved Thursday as speculators increased betting on cheap shares, but Ho Chi Minh Stock Exchange (HoSE) suddenly fell.

HoSE’s matching value amounted to VND500.1 billion ($24.2 million), the highest level in three weeks. The value also jumped to VND310.8 billion ($15 million) on Hanoi Stock Exchange (HNX).

The continuing surge of Tan Tao Investment Industry Corp. (ITA) led the market sentiment up. The real-estate stock hit the ceiling and outperformed the HoSE again with 3.5 million shares matched.

KBC also hit the ceiling, but trading value reduced to just around 128,000 units.

Pennies and mid-cap massively rallied on both bourses in the open of the session. Real-estate stocks Vietnam Electricity Construction (VNE), Urban Development and Construction Corp. (UDC), Cotec investment and Land-House Development (CLG) on HoSE, Saigon Commercial Real Estate (SCR), PetroVietnam-Nghe An Construction (PVA), SongDa Infrastructure Construction (SDH) sharply jumped on surging bidding for shares.

Mineral stocks Binh Thuan Mineral Industry (KSA), Nari Hamico Minerals (KSS), Lao Cai Mineral Exploitation & Processing (LCM) continued rallying although the gains had narrowed down.

Even large-cap stocks turned head to rise in the morning trading, among them Bao Viet Holdings (BVH), Saigon Securities Inc. (SSI), Eximbank (EIB), Sacombank (ETB). However, sudden falls of large-cap stocks in the end of session turning the HoSE red.

Sacombank (STB), Military Bank (MBB) modestly shed while Masan Group (MSN), Vincom Group (VIC) strongly fell. Bao Viet Holdings (BVH) also reduced back.

Advancers outran decliners 128 to 81 on HoSE, but the benchmark VN-Index still ended off 0.47 points or 0.12 per cent to close at 394.19 points.

HNX-Index still gained 0.33 points or 0.59 per cent to 55.84 per cent. Advancers outran decliners 154 to 66 on the northern bourse, in which large-cap stocks also ended flat of just slightly rose.

Put-through value was low. Overall, 45.2 million shares worth VND590.7 billion ($28.5 million) were traded on HoSE and 45.5 million shares worth VND314.1 billion ($15.2 million) were changed hands on HNX.