HoSE struggles to ease fall

June 13, 2012 | 18:00
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The Ho Chi Minh Stock Exchange (HoSE) fell further Wednesday as its correction trend continued.

The benchmark VN-Index slightly shed 0.55 points or 0.13 points to end at 427.61 points, after fluctuating during the session.

Blue-chips ended mixed, with Vietcombank (VCB), PetroVietnam Gas (GAS), Masan Group (MSN), Vietinbank (CTG) slightly adding, while Sacombank (STB), Song Da Urban & Industrial Zone Investment and Development (SJS) significantly reduced. Bao Viet Holdings (BVH) also slightly shed.

Decliners still outran advancers 132 to 96 on the southern bourse. Matching value remained low at just VND659 billion ($31.8 million).

Put-through transaction rallied with VND785 billion ($37.9 million) worth of shares changing hands. Eximbank (EIB) had 20 million shares negotiated, while Sacombank (ETB) saw 15 million shares change hands.

Mineral stocks still rallied amidst the correction trend. Nari Hamico Minerals (KSS) soared 4.04 per cent with more than 1 million shares matched. Bac Giang Exploitable Mineral (BGM) jumped 3.95 per cent, Tay Bac Minerals Investment (KTB) 1.03 per cent, Binh Thuan Mineral Industry (KSA) 4.73 per cent and Hamico Group Mineral (KSH) up 3.77 per cent.

Real estate stocks still strongly fluctuated despite the government’s efforts to rescue the sector. The sector largely fell today, but speculative stocks like Tan Tao Investment Industry Corp. (ITA), Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), Sao Mai Construction Corp. (ASM), Binh Duong Trade and Development (TDC) reduced their falls to 1-2 per cent each.

Trading sentiment was somewhat more positive on the Hanoi Stock Exchange (HNX), where advancers outran decliners 116 to 96. Several leading stocks like Asia Commercial Bank (ACB), Saigon-Hanoi Bank (SHB), Vietnam Construction and Import-Export (VCG), VNDirect Securities (VND) gained supporting the market. The benchmark HNX-Index climbed 0.16 points or 0.21 per cent to 74.76 points.

But, liquidity reduced further on the northern bourse to low level of 37.6 million shares worth VND393 billion ($18.9 million).

PetroVietnam Construction (PVX) outperformed the market with nearly 7 million shares matched, but it reduced 0.95 per cent to VND10,400. Matching volumes of other leading stocks kept low.

By Hai Linh


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