Little feeders show big appetite

November 20, 2012 | 17:00

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Bottom fishing activities increased Tuesday helping both bourses climb north.

Green extended on a large scale across the stock market. Real estate stocks Tan Tao Investment Industry Corp. (ITA) jumped 2.56 per cent and Kinh Bac City Development Share Holding Corp. (KBC) hit the ceiling.

Leading real estate tickers on the Hanoi Stock Exchange (HNX) even strongly bounced back, with Saigon Commercial Real Estate (SCR) and Petro Vietnam Construction (PVX) jumped nearly 2 per cent. Vietnam Construction and Import-Export (VCG) and PetroVietnam-Nghe An Construction (PVA) significantly advanced.

Hoang Anh Gia Lai (HAG) hit the ceiling, after falling in previous sessions due to poor third quarter results. Several other real estate tickers like Licogi 16 (LCG), Ocean Group (OGC), Hoa Binh Construction & Real Estate Corp. (HBC), Thu Duc Housing Development (TDH), Development Investment Construction (DIG) modestly ended up.

Mineral stocks rallied back, with Lao Cai Mineral Exploitation & Processing (LCM), Duong Hieu Trading and Mining (DHM) both hitting the ceiling, Tay Bac Minerals Investment (KTB), Binh Dinh Minerals (BMC) and Binh Thuan Mineral Industry (KSA) ending up.

Some small-cap stocks of producing and services sectors like Vinh Khanh Cable Plastic Corp. (VKC), Petro Vietnam Power Services (PPS), Dien Quang (DQC) sharply rose with high demand for shares.

More than half of HoSE advanced, namely 141 stocks were up and 57 were down. Also, advancers outran decliners 138 to 51 on HNX.

HoSE’s VN-Index added 1.78 points or 0.46 per cent to 385.1 points, while HNX’s HNX-Index advancing 0.45 points or 0.87 per cent to 51.9 points.

Whereas, banking stocks stayed modest. Military Bank (MBB), Eximbank (EIB), Vietinbank (CTG), Asia Commercial Bank (ACB) slightly added while Vietcombank (VCB) and Sacombank (STB) slightly declined. Saigon-Hanoi Bank (SHB) rallied on HNX with more than 4.7 million shares matched, advancing 2 per cent. Matching volumes of those stocks were very low of some tens of thousand shares or some hundreds of thousands shares.

Liquidity kept weak on investors’ discouraged sentiment. On HoSE, 24.5 million shares worth VND336.1 billion ($16.2 million) were changed hands. On HNX, some 22.5 million shares worth VND124.5 billion ($6 million) were traded.