Liquidity increases the stakes

June 04, 2012 | 18:00

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Liquidity suddenly improved Monday as the market became attractive again.

Matching volumes reached 60 million shares worth VND872.5 billion ($42.1 million) on the Ho Chi Minh Stock Exchange (HoSE), 1.5 times higher than the average level of current sessions.

Moreover, 80.3 million shares worth VND1.52 trillion ($73.4 million) were traded via put-through method sharply boosted liquidity on the southern bourse to 143 million shares worth VND2.44 trillion ($117.9 million).

Eximbank (EIB) saw a huge volume of 60 million shares worth more than VND1 trillion ($48.3 million) shares negotiated, while Sacombank (STB) saw16 million shares negotiated.

Hanoi Stock Exchange (HNX) liquidity reached 44.3 million shares worth VND420 billion ($20.3 million), slightly adding to previous session.

The strong liquidity improvement was believed to have come from the cheap prices on offer, as benchmarks had continuously fallen to low levels throughout last month. The VN-Index of HoSE reached 416.65 points today, down 12.15 points or 2.83 per cent against previous session.

Blue-chips massively fell again today. Real-estate large-cap stocks Vingroup (VIC), Song Da Urban & Industrial Zone Investment and Development (SJS), Hoang Anh Gia Lai (HAG), Khang Dien House Trading and Investment (KDH), Development Investment Construction (DIG), Thu Duc Housing Development (TDH), Ocean Group (OGC) massively hit the floor. PetroVietnam Drilling and Wells Services and PetroVietnam Finance (PVF) hit the floor as well.

The key pillar stock PVGas (GAS) lost 4.3 per cent, down to VND35,600. Red still covered the market with 237 stocks off and 29 up.

The HNX-Index lost 1.85 points or 2.49 per cent to end at 72.5 points today. Decliners overwhelmed advancers 209 to 55.

Meanwhile, speculative cash started to flow in a few pennies and mid-cap stocks. Hoa Binh Construction & Real Estate Corp. (HBC) hit the ceiling with more than 830,000 units matched. Binh Thuan Mineral Industry (KSA) hit the ceiling with 481,000 units matched. Mirae JSC (KMR) also saw big bidding volumes.

HNX’s Cavico Industry and Minerals (CMI) hit the ceiling, Hanoi Investment General Corp. (SHN) and Thai Hoa Viet Nam Group (THV) sharply rose.