Investors consolidate gains

November 01, 2011 | 15:00

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The market sunk Tuesday as investors strongly locked in profits after previous rallying sessions.

The VN-Index of Ho Chi minh Stock Exchange (HoSE) lost 7 points or 1.66 per cent to 413.82 points. The bourse sunk into the red with 191 stocks lower, while just 41 up and 72 unchanged.

Bao Viet Holdings (BVH) led the losers, hitting the floor to VND68,000. A mass of blue-chips followed, among them Vincom Corp. (VIC), Masan Group (MSN) significantly shed, Song Da Urban & Industrial Zone Investment and Development (SJS) hitting the floor, while Hoang Anh Gia Lai (HAG), FPT Corp. (FPT) modestly dropped.

Selling power also focused on speculative stocks, dragging those stocks strongly down. Becamex Infrastructure Development (IJC) and Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC) hit the floor on large offering volumes. The two stocks were also strongly active with 1.8 and 1.2 million shares matched respectively.

PetroVietnam-Idico Long Son Industrial Park Investment (PXL), Binh Duong Trade and Development (TDC) and Transport Engineering Construction & Business Investment JSC 584 (NTB) were sharply down.

Financial shares Saigon Securities Inc. (SSI), Vietinbank (CTG), Vietcombank (VCB) slightly slipped. The new listing stock Military Bank (MBB) ended flat with a trading volume of 2.7 million shares.
Total volume boosted up to 44.9 million shares worth VND721 billion ($34.8 million) thanks to put-through value sharply increasing to VND332 billion ($16.2 million).

Banking shares and real estate shares largely tumbled on the Hanoi Stock Exchange (HNX). Kim Long Securities (KLS), Wall Street Securities (WSS), Bao Viet Securities (BVS), Saigon-Hanoi Securities (SHS) along with Vietnam Construction and Import- Export (VCG), PetroVietnam Construction (PVX), PetroVietnam Power Land (PVL), SongDa Infrastructure Construction (SDH) all lost 5-7 per cent.

Just VnDirect (VND) saw a slight fall of 0.87 per cent. The stock also outperformed the market with 5.4 million shares matched, followed by KLS with 5.2 million shares.

At the close, the HNX-Index slipped 1.69 points or 2.4 per cent to 68.52 points. Some 227 stocks were off with 76 hit the floor. Liquidity reached 37.2 million shares worth VND396 billion ($19.3 million).