HoSE is off target

Several blue-chips fell on weak demand pushing down the southern bourse. Bao Viet Holdings (BVH) lost 1.78 per cent to VND49,600. PetroVietnam Gas (GAS) fell 1.87 per cent while Vietcombank (VCB) and Sacombank (STB) off 1.66 and 1.2 per cent, respectively.

Kinh Bac City Development Share Holding Corp. (KBC), PetroVietnam Drilling and Well Services (PVD) slightly shed 0.79 per cent

Whereas, Vietinbank (CTG) suddenly hit the ceiling today with 1.6 million shares matched. Other blue-chips ended flat or just slightly climbed.

Cheap speculative stocks of real estate and mineral sectors ended mixed today after strong rallying trend in previous sessions.  Nari Hamico Minerals (KSS), Tay Bac Minerals Investment (KTB), Binh Thuan Mineral Industry (KSA) and Bac Giang Exploitable Mineral (BGN) significantly fell on selling pressures.

Sao Mai Construction Corp. (ASM), Vietnam Mechanisation Electrification and Construction (MCG) were off, while other real-estate stocks still strongly rising.

Advancers still outran decliners 136 to 85. But, the benchmark VN-Index still slipped 0.4 points or 0.09 per cent to 432.5 points.

Investors still closely eyed banking system restructure and non-performing-loan arrangement movements, as the government’s move to cut deposit interest rates was not enough to see a economic rebound.

“We still remain conservative as the monetary policy alone is never enough,” said Saigon Securities Inc. (SSI) in its note to clients. “It should be noted that deposit rate caps have fallen faster than lending rates.”

Meanwhile, liquidity rose further as investors increasingly picked up cheap shares. HoSE’s liquidity reached 68.1 million shares worth VND1.18 trillion ($57 million) today.

Purchasing power was stronger on Hanoi Stock Exchange (HNX), with some speculative stocks sharply rallying. PetroVietnam Construction (PVX) sharply rose 4.85 per cent with nearly 16 million shares matched, Vietnam Construction and Import-Export (VCG) hit the ceiling with big buying power of foreigners, while PetroVietnam-Nghe An Construction (PVA) strongly up.
The HNX-Index added 0.72 points or 0.96 per cent to 75.8 points, after advancers outrunning decliners 145 to 89 on the bourse. Liquidity reached 60.4 million shares worth VND629.4 billion ($30.4 million).