Liquidity a scarce commodity

June 06, 2012 | 18:00

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Liquidity stayed low despite rebounds in market benchmarks Wednesday.

Sacombank (STB) continued having huge put-through volumes of some 45 million shares, boosting put-through value to VND1.2 trillion ($57.9 million) on Ho Chi Minh Stock Exchange (HoSE). Matching value was just VND561.5 billion ($27.1 million), with some 43 million shares traded.

Hanoi Stock Exchange’s (HNX) liquidity even fell to 36 million shares worth VND349 billion ($16.9 million).

Two benchmarks again ended up as they approached a strong resistance level. VN-Index rose 5.37 points or 1.27 per cent to 429.36 points.

Stocks largely ended up again, with up to 196 stocks up on the southern bourse today, compared with 59 declining and 53 flat.

Speculative stocks in real estate and mineral sectors largely gained today. Licogi 16 (LCG) hit the ceiling with more than 2 million units matched today. Ocean Group (OGC) and Hoang Anh Gia Lai (HAG) both hit the ceiling.

Cheap real estate stocks International Development and Investment Corp. (IDI), Vietnam Electricity Construction (VNE), Sao Mai Construction Corp. (ASM) massively hit the ceiling. Tan Tao Investment Industry Corp. (ITA) was up 2.78 per cent, Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC) 3.92 per cent. Those stocks were all of top active stocks.

Mineral stocks like Tay Bac Minerals Investment (KTB), Nari Hamico Minerals (KSS), Hamico Group Mineral (KSH) were in strong demand with big bidding volumes outstanding at the close.

Several major stocks also significantly gained supporting the market, among them Vietcombank (VCB), Vincom Corp. (VIC), PVGas (GAS) and Bao Viet Holdings (BVH).

HNX just slightly climbed 0.2 points or 0.27 per cent ending at 73.78 points, although advancers also overwhelmed decliners. Some 147 stocks were up on the northern bourse, among them 28 stocks hitting the ceiling.

Demand for shares still focused on very cheap stocks like South East Asia Hamico Export (KSD), Thai Hoa Viet Nam Group (THV), Bimson Cement (BCC) and Hanoi Investment General Corp. (SHN).

Major stocks like VNDirect Securities (VND), Asia Commercial Bank (ACB) saw just slight gains. Saigon-Hanoi Securities (SHS), Saigon-Hanoi Bank (SHB), Bao Viet Securities (BVS) even slightly shed.