Market climbs north

November 05, 2012 | 17:00

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The Ho Chi Minh Stock Exchange (HoSE) bounced back Monday thanks to the rise of a few large-cap stocks.

VN-Index of Ho Chi Minh Stock Exchange (HoSE) gained 2.01 points or 0.54 per cent to 377.27 points, despite decliners outrunning advancers. Some 120 stocks declined compared with 78 up on the southern bourse.

Large-cap stocks Vinamilk (VNM), Masan Group (MSN), PetroVietnam Gas (GAS), PetroVietnam Fertilizers (DPM), along with banking stocks Eximbank (EIB), Vietinbank (CTG), slightly gained today, raising the market.

The news that Sacombank’s former chairman Dang Van Thanh had returned home after being summoned by the police last week appeared to significantly encourage investors’ sentiment. STB ended flat today with 1.7 million shares matched.

Some stocks with robust third-quarter business results significantly gained today. Vegetable Oil Packing (VKP) hit the ceiling, Hoa Sen Group (HSG) jumped 2.38 per cent while Kinh Do Corp. (KDC) climbing 0.31 per cent.

Meanwhile, stocks were still largely put under selling pressure. Mineral stocks Lao Cai Mineral Exploitation & Processing (LCM), Tay Bac Minerals Investment (KTB), Binh Thuan Mineral Industry (KSA) hit the floor while Nari Hamico Minerals (KSS) dropping 3.45 per cent.

Small-cap stocks in real-estate stocks Sao Mai Construction Corp. (ASM), Vietnam Electricity Construction (VNE), Hoang Quan Consulting – Trading – Service Real Estate Corp. (HQC) lost 3-4 per cent each.

Without support from large-cap stocks, the Hanoi Stock Exchange (HNX) continued falling. The benchmark HNX-Index slipped 0.31 points or 0.61 per cent to 50.75 points. Decliners outran advancers 110 to 70.

Real-estate tickets massively fell to the floor prices on the northern bourse. Saigon Commercial Real Estate (SRC) lost 5.88 per cent, FLC Group (FLC) 6.35 per cent, Vietnam Construction and Import - Export (VCG) 4.76 per cent and SongDa Infrastructure Construction (SDH) was off 6.25 per cent.

Both put-through and matching value stayed weak today. HoSE had 31 million shares worth VND371.5 billion ($20.7 million) changed hands, while HNX having 21.8 million shares worth VND121.2 billion ($5.8 million) traded.

Matching value totaled VND417.7 billion ($20.2 million).