Liquidity in limp form

August 30, 2012 | 17:00

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The stock market ended higher Thursday on the rise of speculative stocks, but liquidity remained low.

The VN-Index gained 4.19 points or 1.07 per cent on the Ho Chi Minh Stock Exchange (HoSE), ending at 397.25 points.

The HNX-Index slightly added 0.04 points or 0.06 per cent to 239.7 points on Hanoi Stock Exchange (HNX).

But, liquidity stayed very modest. Trading value reached just 39.1 million shares worth VND602.1 billion ($29.1 million) on the southern bourse, while staying at 32.3 million shares worth VND278.9 billion ($13.5 million) on the northern bourse.

The gains mostly came from the rise of speculative stocks in real estate and construction sector.

Major stocks Hoang Anh Gia Lai (HAG) hit the ceiling, Song Da Urban & Industrial Zone Investment and Development (SJS) jumped 3.39 per cent. Kinh Bac City Development Share Holding Corp. (KBC) advanced 1.3 per cent, Ocean Group (OGC) added 0.9 per cent. The blue-chip Vincom Corp. (VIC) hit the ceiling.

Minor stocks Post and Telecommunications Investment and Construction (PTC), Urban Development and Construction Corp. (UDC), Dat Xanh Real Estate Service & Constructions Corp. (DXG) hit the ceiling. Cotec investment and Land-House Development (CLG), Ninh Van Bay Real Estate (NVT) sharply rose.

Mineral stocks also largely rallied. Duong Hieu Trading and Mining (DHM) hit the ceiling with nearly 900,000 units matched, while Nari Hamico Minerals (KSS), Binh Thuan Mineral Industry (KSA), Lao Cai Mineral Exploitation & Processing (LCM) strongly jumped on big bidding volumes.

Selling power kept modest in this session, beating previous fears among investors that the big shares volume in the Friday (24 August) session coming to investors’ accounts today would cause a big selling pressure.

Several banking stocks ended modestly higher, among them Eximbank (EIB), Vietcombank (VCB), Vietinbank (CTG) and Sacombank (STB). Advancers outran decliners 132 to 88 on the HoSE.

On the HNX, speculative stocks in real estate sector and in PetroVietnam-family also drove up the market. Saigon Commercial Real Estate (SCR) jumped 5.48 per cent with more than 4 million shares matched. PVI Investment and Development (PV2) hit the ceiling while Petro Vietnam Power Land (PVL) and Petro Vietnam Finance Land (PFL) strongly rising.

Leading stocks like VNDirect Securities (VND), Saigon-Hanoi Bank (SHB) and Asia Commercial Bank (ACB) meanwhile all ended flat. Some 97 stocks advanced and 90 declined on the northern bourse.