Licogi stands out like a beacon

Licogi (LCG) was active the most on the Ho Chi Minh Stock Exchange (HoSE) with 4.4 million shares matched today, jumping 4.32 per cent despite the company posted this morning a big borrowing in gold. Rising gold prices had boosted the borrowing value by some VND200 billion ($9.66 million).

In line with LCG’s rally, real estate stocks Tan Tao Investment Industry Corp. (ITA), Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC) and Ocean Group JSC (OCG) all hit ceiling, with millions of shares matched.

Investment and Trading of Real Estate (ITC) and Quoc Cuong Gia Lai (QCG) both gained more than 4 per cent, while Hoang Anh Gia Lai (HAG) significantly added.

The real estate sector’s rally was also in line with HoSE’s sharp rebound today, after the central bank said it would act to stabilise the exchange rates and keep interest rates low.

The benchmark VN-Index jumped 7.83 points, or 1.8 per cent, to close at 443.99 points. Some 208 stocks climbed on the bourse with 75 hitting ceiling, while just 41 off and 51 unchanged.

Refrigeration Electrical Engineering Corp. (REE) and Saigon Securities Inc. (SSI) both hit the ceiling. PetroVietnam Finance (PVF) added 4.48 per cent.

On the Hanoi Stock Exchange (HNX), major speculative stocks also massively hit the ceiling or nearly hit the ceiling. Total volume sharply increased 26 per cent to 64 million shares worth VND697.6 billion ($34 million).

Driving stock Kim Long Securities (KLS) volumes soared to more than seven million units. Dozens of stocks saw matching volumes reach millions units on the northern bourse.

The benchmark HNX-Index gained 2.98 points or 4.04 per cent to 76.75 points, after 251 stocks advancing. Just 46 stocks were down and 89 were unchanged.

Meanwhile, Sacombank (STB) was unchanged while Vietcombank (VCB) and Eximbank (EIB) slightly added on  the HoSE.

The southern bourse’s liquidity was almost unchanged at 44.27 million shares worth VND704.42 billion ($34.4 million), with selling pressures strongly reducing.