Investors look over shoulders

July 19, 2012 | 19:00

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Cautious sentiment dominated the market today, making the two bourses end with mixed results.

While demand for shares focused on a few stocks, selling pressures started to appear. At the close, the VN-Index of Ho Chi Minh Stock Exchange (HoSE) slightly climbed 1.28 points or 0.21 per cent to 418.83 points.

Whereas, Hanoi Stock Exchange’s (HNX) HNX-Index ended down 0.38 points or 0.52 per cent to 71.03 points.

Liquidity was weak. Matching volumes were VND533.8 billion ($25.8 million) and VND288.8 billion ($13.9 million), respectively on HoSE and HNX.

Put-through volumes were modest as well. Total trading volume reached 49.4 million shares worth VND790.7 billion ($38.2 million) on HoSE. The figures were of 38.4 million shares worth VND369.4 billion ($17.8 million) on HNX.

Financial stocks were positive in today’s session. Vietinbank (CTG) gained 1.42 per cent, Vietcombank (VCB) was up 0.35 per cent and Bao Viet Holdings (BVH) added 1.4 per cent. But Eximbank (EIB), Sacombank (STB) and other financial stocks stayed flat. Military Bank (MBB) even shed.

Meanwhile, some speculative stocks still strongly attracted speculative cash flows. Among them, Sacom Development and Investment Corp. (SAM) outperformed the market with 3.2 million shares matched, adding 3.9 per cent. Refrigeration Electrical Engineering Corp. (REE) followed with 1.8 million shares matched, adding 2.35 per cent.

Mineral stock Bac Giang Exploitable Mineral (BGM) gained 3.28 per cent with 1.1 million shares. Binh Dinh Minerals (BMC) hit the ceiling.

Ho Chi Minh City Infrastructure Investment (CII) hit the ceiling, although the real estate company announced poor business results for first half of this year. Vietnam Electricity Construction (VNE) kept rallying with gain of 4.11 per cent.

Meanwhile, leading stocks on the HNX massively eased back. VNDirect Securities (VND) ended flat today after sharply rallying in yesterday session. Vietnam Construction and Import-Export (VCG), Kim Long Securities (KLS), Habubank (HBB), Saigon-Hanoi Bank (SHB) all ended off.

Other securities company stocks also in the same downtrend, after the sudden rally in yesterday’s session.

Overall, some 102 stocks were down on HoSE, compared with 120 ended up. But decliners outran advancers 124 to 93 on HNX.