Key stocks unlock trading door

Bao Viet Holdings (BVH) hit the ceiling thanks to buying power from foreigners, with 108,000 units matched.

Vincom Corp. (VIC) significantly gained 1.59 per cent, while Masan Group (MSN) advancing 0.88 per cent.

Foreigners also boosted their purchasing of blue-chips Vietcombank (VCB), Sacombank (STB), Vietinbank (CTG), PetroVietnam Fertilisers (DPM), Hoa Phat Group (HPG).

Some blue-chips like Kinh Do Corp. (KDC), Song Da Urban & Industrial Zone Investment and Development (SJS) and PetroVietnam Drilling and Well Services (PVD) also significantly rose.

HoSE’s VN-Index added 1.4 points or 0.32 per cent, ending at 441.03 points.

Meanwhile, the market still largely fell on strong selling pressures. More than half the market fell, or 174 stocks ended lower. Just 68 stocks were up and 66 were unchanged.

Real estate stocks Licogi 16 (LCG), Investment and Trading of Real Estate (ITC), along with the same sector’s pennies like Becamex Infrastructure Development (IJC), International Development and Investment Corp (IDI) Vietnam Mechanisation Electrification and Construction (MCG), Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), largely sunk.

Banking stocks saw modest falls. Military Bank (MBB) was off 1.36 per cent, Eximbank (EIB) 1.14 per cent and Sacombank (STB) declined 0.85 per cent. Vietcombank (VCB) increased 1.05 per cent thanks to foreigners’ support.

Having no support from pillar stocks, Hanoi Stock Exchange (HNX) significantly dropped. The HNX-Index lost 1 points or 1.37 per cent to close at 72.2 points. Decliners also overwhelmed advancers 206 to 69.

Securities and PetroVietnam-family stocks were strongly dumped. Stocks of small brokerages like Saigon-Hanoi Securities (SHB), Haiphong Securities (HPC), Au Viet Securities Corp. (AVS), Wall Street Securities (WSS), PetroVietnam Securities Inc. (PSI) dropped the most.

PetroVietnam-Nghe An Construction (PVA), Petro Vietnam Power Land (PVL) lost more than 6 per cent each, while other PetroVietnam-family stocks were off 1-3 per cent.

Liquidity strongly reduced on weakening sentiment from buyers and sellers. Trading value fell to VND882.4 billion ($42.6 million) on the HoSE and to just VND613.5 billion ($29.6 million) on the HNX. Total volumes reached 67 million shares and 74 million shares on the two bourses, respectively.