Liquidity on a roll despite pressures

May 10, 2012 | 17:00

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Liquidity soared Thursday despite locking in profit pressures and the fall of both bourses.

Trading volumes reached 134.6 million shares on the Ho Chi Minh Stock Exchange (HoSE), worth as high as VND2.3 trillion ($111.1 million).

The Hanoi Stock Exchange (HNX) also saw its volume up and trading volumes reached 101 million shares worth VND1.1 trillion ($53.1 million) on the northern bourse.

Liquidity soared amidst continuing pressure on both bourses. HoSE’s VN-Index lost 1.55 points or 0.32 per cent to 486.07 points, while HNX’s HNX-Index shedding 0.53 points or 0.63 per cent to 83.23 points.

Speculative stocks continued facing big profit locking in pressures. Among them, real-estate stocks Vietnam Electricity Construction (VNE), Sao Mai Construction Corp. (ASM), Ocean Group (OGC), International Development and Investment Corp (IDI), Urban Development and Construction Corp. (UDC), Cuu Long Petro Urban Development and Investment Corp. (CCL) sharply fell.

Mineral stocks Bac Giang Exploitable Mineral (BGM), Tay Bac Minerals Investment (KTB), Nari Hamico Minerals (KSS), Binh Duong Mineral and Construction (KSB), Binh Thuan Hamico Mineral (KSA), Binh Dinh Minerals (BMC) sunk. Sugar stocks Ninh Hoa Sugar (NHS), Bien Hoa Sugar (BHS), Hoa Binh Rubber (HRC), Societe De Bourbon Tay Ninh (SBT) massively hit the floor on the HoSE.

Securities company shares and PetroVietnam-family stocks continued falling on the HNX, but the falls largely reduced to 1-2 per cent each. Particularly, PetroVietnam-family stocks dropped on large scale on both bourses, partly dragging down the market.

Demand for shares mainly focused on pennies. PetroVietnam Transportation Corp. (PVT), Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), MIRAE (KMR), Petro Capital Infrastructure Investment (PTL), Transport Engineering Construction & Business Investment JSC 584 (NTB), Vietnam Petroleum Transport (VIP) sharply jumped on the HoSE with millions shares matched each.

Also, Vietnam Industrial & Commercial Securities Corp. (VIG), SongDa Infrastructure Construction (SDH), Bimson Cement (BCC), Song Da Investment and Construction (SDD), Song Da No 9.06 (S96), Hanoi Investment General Corp. (SHN), Asia-Pacific Investment (API) soared on the HNX, being among top active stocks with 500,000 to millions units matched each.