Liquidity still rare commodity

January 16, 2012 | 17:00

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Both two bourses ended higher Monday with most stocks up, but liquidity remained low.

The Ho Chi Minh Stock Exchange (HoSE) rose for the fifth straight session. The benchmark VN-Index advanced 3.54 points or 1 per cent to 357.87 points. Half the market ended higher, with 165 stocks up, 102 off and 39 unchanged.

Pillar stock Masan Group (MSN) continued rising, hitting the ceiling to VND100,000. Vinamilk (VNM) also jumped, while Bao Viet Holdings (BVH) and Vincom Corp. (VIC) fell.

Large-cap stocks largely rallied. Saigon Securities Inc. (SSI) outperformed the market in this session with 1.5 million shares matched, increasing 2.94 per cent. Military Bank (MBB), Vietinbank (CTG), Vietcombank (VCB) and PetroVietnam Finance (PVF) advanced with some hundreds of thousands shares matched.

A mass of real estate stocks were among top advancers. Tan Tao Investment Industry Corp. (ITA) jumped 3.03 per cent with nearly one million shares matched. Becamex Infrastructure Development (IJC), Hoang Anh Gia Lai (HAG), Ocean Group (OGC), Development Investment Construction (DIG), Ninh Van Bay Real Estate (NVT) massively jumped with large matching volumes.

Some speculative stocks of mineral and hydropower stocks, along with some blue-chips like FPT Corp. (FPT) also rallied.

The rise, however, faded at the session’s ended and the VN-Index gained six points during the session. A number of investors sold out on fears about a possible market fall.
“The market is close to the strong supportive threshold [of 325-330 points], so the possibility of a deep fall is just small. But there can hardly be a rising trend, as the cash flows remain aside the market,” said Maritime Bank Securities.

Matching value kept modest at some VND271 billion ($13.1 million). Total volume was of 29.4 million shares worth VND842.4 billion ($40.7 million). Put-through value soared to VND571 billion ($27.6 million), among them up to five million VIC shares worth VND490 billion ($23.7 million) negotiated.

Hanoi Stock Exchange (HNX) rebounded thanks to strong demand powers for highly liquid stocks. Securities company shares largely hit the ceiling or nearly hit the ceiling. Among them, Kim Long Securities (KLS) and VNDirect Securities (VND) saw 3.1 million and 2.7 million shares matched respectively.

The HNX-Index gained 0.73 points or 1.3 per cent to 57 points. Some 168 stocks advanced, 79 declined and 152 ended flat. Total volume reached 25.8 million shares worth VND194.4 billion ($9.4 million).