Cash jumps into HNX

HNX’s leading stocks PetroVietnam Construction (PVX) and VNDirect Securities (VND) saw matching volumes amounting to more than 5 million units each. VND hit the ceiling, while PVX sharply jumping 4.88 per cent.

Speculative stock Hanoi Investment General Corp. (SHN) hit the ceiling for the fourth straight session, with offering orders quickly matched throughout today’s session. The stock was among top active ones with nearly 2 million shares matched.

Kim Long Securities (KLS) also saw 3.4 million shares matched, but just modestly gained due to a strong selling pressure. Some other leading stocks like Vietnam Construction and Import-Export (VCG), Asia Commercial Bank (ACB) also strongly rallied.

Total volume was boosted to 38.3 million shares, focusing on leading speculative stocks on the northern bourse. Trading value reached more than VND328 billion ($15.8 million).

Advancers outran decliners 136 to 103, helping the benchmark HNX-Index up 1.35 points or 0.34 per cent to 62.53 points.

While retail investors starting to cash in on the stock market, analysts largely warned about a bull-trap as gloomy macroeconomic news still showed few signs of improvement. Major investors, particularly securities companies, are believed to  be liquidating their holdings.

Meanwhile, the VN-Index and VN30 both increased today after strongly fluctuating. The benchmark of Ho Chi Minh Stock Exchange (HoSE) ended at 401.08 points, up 1.35 points or 0.34 per cent. VN30 gained 1.84 points to 449.31 points.

Eximbank (EIB) suddenly rallied with more than 4 million shares matched, ending flat. Other major stocks ended mixed.

Trading volume also jumped on the main bourse to 37 million shares worth VND531 billion ($25.7 million).

Foreigners still boosted their buying on a number of blue-chips like Vietcombank (VCB) and Vietinbank (CTG).