Cash injections fuel market

December 10, 2012 | 17:00

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Speculative cash flows helped both bourses rally Monday after two falling sessions.

The matching value soared on Hanoi Stock Exchange (HNX), the bourse focusing on mid-cap and small-cap stocks, to nearly VND240 billion ($11.5 million).

Saigon-Hanoi Bank (SHB) had more than 5.4 million shares matched, outperforming the northern bourse. The value of Saigon Commercial Real Estate (SCR), PetroVietnam Construction (PVX), VNDirect Securities (VND) climbed to 3-4 million units each.

Liquidity of Kim Long Securities (KLS), Dai Chau JSC (DCS), Vietnam Construction and Import-Export (VCG), Asia-Pacific Securities (APS), Nam Viet Commercial Bank (NVB) also jumped to over 1 million shares each.

As many as 190 stocks ended up on HNX, particularly small-cap and mid-cap stocks like PetroVietnam-Nghe An Construction (PVA), PVI Investment and Development (PV2), PetroVietnam Power Land (PVL) massively soared or hit the ceiling.

Some 49 stocks declined and 157 stayed unchanged. Asia Commercial Bank (ACB) just modestly gained with low liquidity. NVB strongly fell.

The benchmark HNX-Index advanced 1.05 points or 2.03 per cent to end at 52.71 points. Some 44.2 million shares worth VND244.4 billion ($11.8 million) changed hands.

Also, speculative stocks animated Ho Chi Minh Stock Exchange (HoSE), helping the benchmark VN-Index up 2.89 points or 0.75 per cent to 386.69 points.

Cheap stocks massively outperformed. Tan Tao Investment Industry Corp. (ITA), Vietnam Electricity Construction (VNE), Bac Giang Exploitable Mineral (BGM) were most today with more than 2 million shares matched.

Demand for shares focused on low-price real-estate tickers like Ocean Group (OGC), Development Investment Construction (DIG), Duc Long Gia Lai Group (DLG), Sao Mai Construction Corp. (ASM), Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), Licogi 16 (LCG). Those stocks were up 2-3 per cent each.

Matching value soared to VND367.7 billion ($17.6 million) on the southern bourse. With also high put-through value, liquidity jumped to 44.5 million shares worth VND483.9 billion ($23.3 million).

However, banking tickers just moved sideways. Vietcombank (VCB), Eximbank (EIB) and Sacombank (STB) were unchanged. Military Bank (MBB) and Vietinbank (CTG) slightly added.