Cooling inflation heats the market

The benchmark VN-Index of Ho Chi Minh Stock Exchange (HoSE) soared 7.3 points or 1.81 per cent to 411.03 points. The HNX-Index of Hanoi Stock Exchange (HNX) gained 1.33 points, or 1.96 per cent, to close at 69.05 points.

Previously, the HoSE jumped on lower consumer price index date announced yesterday.
“The market continued positively responding to the news about inflation. Investors’ sentiment was remarkably improved,” said FPT Securities.

Investors strongly focused on major and speculative stocks. Pillar stocks Bao Viet Holdings (BVH) and Masan Group (MSN) hit the ceiling strongly boosting the market. Vincom Corp (VIC) and Vinamilk (VNM) also significantly rose.

Real estate giants Ocean Group (OGC) and Song Da Urban & Industrial Zone Investment and Development (SJS) strongly gained. Speculative stocks in this sector, including Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC), Tan Tao Investment Industry Corp. (ITA), Licogi 16 (LCG) rallied with 1-2 million shares matched each.

Low price real-estate stocks PetroVietnam-Idico Long Son Industrial Park Investment (PXL), Mientrung Petroleum Construction (PXM), Transport Engineering Construction & Business Investment JSC (NTB) and Becamex Infrastructure Development (IJC) were also among top active stocks with gains of 3-4 per cent each.

Financial shares ended mixed with Vietinbank (CTG) hit the ceiling, Vietcombank (VCB) climbed while Eximbank (EIB) and Sacombank (STB) ending lower. Saigon Securities Inc. (SSI) added 2.3 per cent and Ho Chi Minh City Securities (HCM) hit the ceiling.

Liquidity increased to 32.6 million shares worth VND546.9 billion ($26.7 million) thanks to boosting put-through volumes of more than 10 million shares. EIB surprised the southern bourse today with around seven million shares negotiated.

Some 170 stocks ended higher on the HoSE, overwhelming 77 decliners and 55 unchanged.
The HXN also saw sharp gains of a mass of major stocks Kim Long Securities (KLS), Bao Viet Securities (BVS), Vietnam Construction and Import-Export (VCG), PetroVietnam Construction (PVX) with millions units matched each.

Securities company shares strongly rallied, among them also low-price shares of small brokerage firms like Au Viet Securities (AVS), Wall Street Securities (WSS), Saigon-Hanoi Securities (SHS) and Orient Securities Corp. (ORS).

Overall, as high as 203 stocks climbed on the northern bourse, compared with 60 off and 46 ending flat. Liquidity soared to 40 million shares worth VND360.54 billion ($17.6 million), with put-through transactions making up 9.4 million shares worth VND72 billion ($3.5 million).