Cool heads prevail on HNX

September 05, 2011 | 16:35

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The Hanoi Stock Exchange opened the week lower as buyers calmed down after six straight robust sessions.

The HNX-Index lost 0.25 points or 0.33 per cent to 75.11 points. Selling pressures strongly weighed on the market at the session’s end, pushing nearly half the market down. Some 151 stocks fell, 106 climbed and 56 ended flat.

Most speculative stocks sharply fell, with Kim Long Securities (KLS) dropping 4.62 per cent, VnDirect Securities (VND) 4.58 per cent and Bao Viet Securities (BVS) off 5.65 per cent.

Vietnam Construction and Import-Export (VCG) per cent and Hanoi Investment General Corp. (SHN) both shed more than 6 per cent, while Petro Vietnam Construction (PVX) lost 2.34 per cent and Saigon Commercial Real Estate (SCR) 4.24 per cent.

The Ho Chi Minh Stock Exchange (HoSE) just slightly gained 0.44 points or 0.1 per cent with support from Bao Viet Holdings (BVH) and Masan Group (MSN), closing at 435.73 points.

Half the southern bourse or 141 stocks fell, compared with 104 up and 54 unchanged.

Refrigeration Electrical Engineering Corp. (REE), Sacom Development and Investment Corp (SAM), Saigon Securities Inc. (SSI) all strongly dropped.

Real estate stocks Kinhbac City Development Share Holding Corp. (KBC) hit the floor, Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC) and Licogi 16 (LCG) significantly fell.

In contrast, several banking stocks gained today. Saigon-Hanoi Bank (SHB) and Habubank (HBB) both hit the ceiling on the HNX, while Eximbank (EIB) gained on the HoSE.

Liquidity remained high, with than 52 million shares worth VND812.1 billion ($39.36 million) traded on the HoSE. The figure soared on HNX, reaching 69.4 million shares worth VND826.79 billion ($40.3 million).

By Hai Linh

vir.com.vn

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