Dramatic southern tumble as investors head north

May 10, 2011 | 15:00

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Liquidity tumbled on the main Ho Chi Minh Stock Exchange Tuesday as investors leave to focus on small stocks in Hanoi.

Volume hit 18 million shares, the lowest level within two years, on Ho Chi Minh Stock Exchange (HoSE) while increasing to 25 million on Hanoi Stock Exchange (HNX). Value stood at VND366 billion ($17.68 million) and VND347 billion ($16.76 million).

Saigon Securities Inc. (SSI) outperformed the market thanks to just 808,000 shares traded. Even top active stocks saw gloomy transactions with some hundreds of thousands of units changing hands.

Meanwhile, the benchmark VN-Index gained 3.82 points or 0.8 per cent to 481.29 points, partly thanks to the gain of some blue-chips like Masan Group (MSN), Bao Viet Holding (BVH), Vinamilk (VNM) and Vincom Corp. (VIC).

PetroVietnam Fertiliser (DPM) and PetroVietnam Finance (PVF) both advanced. Vietinbank (CTG) slightly rose while SSI, Vietcombank (VCB) and Sacombank (STB) eased back.

Decliners and gainers ran evenly on the southern bourse.

On the northern bourse, major stocks massively turned back to fell after rallying yesterday as speculators blocked profits.

VnDirect Securities (VND) declined 1.36 per cent, Thai Hoa Vietnam Group JSC (TVH) 1.8 per cent and Kim Long Securities Corp. 2.04 per cent. Wall Street Securities (WSS) and Hoa Bank Securities (HBS) also eased back.

Bao Viet Securities (BVS), along with Habubank (HBB) and Saigon-Hanoi Bank (SHB) were unchanged.

Saigon Commercial Real Estate JSC (SCR) jumped 4.72 per cent. HNX-Index lost 0.4 per cent to 83 points.

Investors seemingly gave more favour to the northern bourse that mainly serves low-price stocks. More than two million VND shares changed hands today. Several most major stocks also saw one million to 1.5 million shares traded.

By Hai Linh

vir.com.vn

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