Market a mixed bag

January 06, 2012 | 16:00

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Stock market continued significantly falling, but some major stocks turned head to rise on supportive news about their business.

Ho Chi Minh Stock Exchange’s (HoSE) VN-Index fell 4.21 points or 1.23 per cent to close at 336.73 points. Half the market sunk in red, with 148 stocks off and just 66 advancing.

Blue-chips continued dropping dragging down the market, among them pillar stocks Bao Viet Holdings (BVH) and Masan Group (MSN) both hit the floor. Real-estate blue-chip Hoang Anh Gia Lai (HAG) and Song Da Urban & Industrial Zone Investment and Development (SJS) tumbled. Saigon Securities Inc. (SSI) also hit the floor.

Given VN-Index’s continuing falling, brokerage firms largely recommended their clients that the benchmark was showing no technical sign of a rebound. As there has been not yet any news good enough to encourage the buyers, the sellers proves increasingly impatient ahead of the Tet holiday.

However, some blue-chips rallied on those companies’ good news. Vietinbank (CTG) gained 1.69 per cent with more than 330,000 units matched, after the bank announcing strong 2011 business result.

Eximbank (EIB) also slightly gained on its dividend payment announcement. Sacombank (STB) significantly advanced amid big transactions of the bank’s major shareholders.
Tan Tao Investment Industry Corp. (ITA) rose 1.64 per cent with up to 740,000 shares matched. FPT Corp. (FPT) and Vinamilk (VNM) also slightly advanced.

Whereas, put-through transactions among major investors excited. Some 9.3 million shares worth VND170 billion ($8.21 million) were negotiated, helping increasing total trading volume to 29 million shares worth VND420.4 billion ($20.3 million).

STB continued outperforming the market with more than 3 million shares matched and some 2.7 million shares negotiated.

Hanoi Stock Exchange (HNX) ended at 55.43 points, down 0.46 points or 0.82 per cent, helped by up to 147 stocks losing on the bourse. Just 58 stocks gained and 47 ended flat.
Weak liquidity has not been improved yet, reaching 20.6 million shares worth VND171.3 billion ($8.3 million).

Kim Long Securities (KLS) outperformed the northern bourse with 3.3 million shares matched, followed by VNDirect Securities (VND) at over 3.2 million shares and PetroVietnam Construction at 1.4 million shares.