Major stocks ignite market

Key pillar stock Masan Group (MSN) hit the ceiling, while Vincom Corp (VIC) also strongly gained 1.96 per cent to VND104,000.

Most blue-chips in the VN30 stock basket ended up. PetroVietnam Drilling and Well Services (PVD) advanced 2.02 per cent, FPT Corp. (FPT) 1.54 per cent, Hoa Phat Group (HPG) 3.19 per cent while PetroVietnam Fertilisers (DPM) up 1.9 per cent.

Major stocks’ gain raised up the market since the end of morning trading. Some 219 stocks advanced on the Ho Chi Minh Stock Exchange (HoSE) at the close, with 87 hitting the ceiling. Just some 39 stocks were lower.

HoSE’s VN-Index soared 7.52 points or 1.6 per cent to end at 476.32 points.

Meanwhile, speculative stocks still rallied the most on the market. Electricity stock Vinh Son-Song Hinh Hydropower (VSH) suddenly outperformed the market to day with 3.7 million shares matched, hitting the ceiling. Tan Tao Investment Industry Corp. (ITA) followed with more than 3 million shares matched.

Speculative stocks Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), Sacom Development and Investment Corp. (SAM), PetroVietnam-Idico Long Son Industrial Park Investment (PXL), Licogi 16 (LCG) sharply rose on big demands for those shares, despite significant locking profit pressures. Those stocks were all among top active stocks with more than 2 million shares matched each.

Bidding for shares was continuously ordered in prominent speculative pennies, among them Transport Engineering Construction & Business Investment JSC 584 (NTB), Vietnam Mechanisation Electrification and Construction (MCG), Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC).

Some mineral stocks still jumped despite the weakening trend of the sector from Wednesday. Binh Dinh Minerals (BMC), Binh Duong Mineral and Construction (KSB) both hit the ceiling while Binh Thuan Hamico Minerals (KSA) jumped.

Speculative cash strongly turned to securities company shares, continuing the upward trend of the sector from yesterday. Sacombank Securities (SBS) and BIDV Securities (BSI) both hit the ceiling on HoSE while Orient Securities (ORS), Asia-Pacific Securities (APS), Saigon-Hanoi Securities (SHS) hitting the ceiling on the Hanoi Stock Exchange (HNX).

The HNX also saw a positive session with up to 215 stocks gaining, compared with 62 losing. The benchmark HNX-Index added 1.2 points or 1.5 per cent to end at 80.89 points.

Despite large concerns from analysts about uncertain trend of the market with the gain mostly coming from speculative activities, cash flows still increased. Trading value was of VND1.71 trillion ($82.6 million) on HoSE, with volume of 108 million units.

Liquidity even improved to 101 million shares worth VND1.1 trillion ($51.4 million) on the HNX today.