HoSE slowly heads north

The consumer price index (CPI) for July increased 1.32 per cent in Hanoi and 1.07 per cent in Ho Chi Minh City – growing at higher speed than past years.

The southern hub’s bourse (HoSE), however, suddenly rallied with the sharp jumps of blue-chips. A mass of major stocks hit the ceiling, among them FPT Corp. (FPT), Hoang Anh Gia Lai (HAG), Hoa Phat Group (HPG), Vietinbank (CTG), Ocean Group (OGC), Song Da Urban & Industrial Zone Investment and Development (SJS).

The two pillars Bao Viet Holding (BVH) gained 2.11 per cent, while Masan Group (MSN) added 2.19 per cent.

Saigon Securities Inc. (SSI), Vietcombank (VCB), PetroVietnam Fertilisers (DPM), PetroVietnam Finance (PVF) significantly rose. Speculative stocks like Tan Tao Investment Industry Corp. (ITA), Refrigeration Electrical Engineering Corp. (REE) were also among the advancers.

Up to 146 stocks ended higher on the southern bourse, mainly major stocks. Demand for shares significantly increased at the session’s end, boosting the benchmark VN-Index up 6.65 points or 1.62 per cent to close at 416.77 points.

Some 70 stocks dropped and 67 were unchanged.

Liquidity also improved, reaching 21.6 million shares worth VND400.56 billion ($19.35 million) on the HoSE. Put-through volumes remained high at five million shares worth VND126.05 billion ($6.1 million).

Bac Giang Exploitable Mineral (BGM) suddenly outperformed the market with 1.5 million units changing hands. Sacombank (STB) and SSI’s trading volume bounced back to some one million shares from yesterday’s low of just 500,000 units each.

In the same mood with the main bourse, gainers overwhelmed droppers 190 to 72 on the Hanoi Stock Exchange (HNX). Some 127 stocks ended flat or had no transactions.

The HNX-Index slightly climbed 0.95 points or 1.34 per cent to 71.69 points. Liquidity advanced more strongly to 22.35 million shares worth VND250.68 billion ($12.11 million).

Large-cap stocks also largely rose, led by Bao Viet Securities (BVS), PetroVietnam Construction (PVX), Hanoi Investment General Corp. (SHN). Speculative stocks Kim Long Securities (KLS), VnDirect Securities, Sacomreal (SCR) strongly gained.

Investors also focused on those major stocks, with trading volumes of KLS, VND and SCR hitting 3.3 million, 2.2 million and 1.7 million shares respectively.