Market enjoys status quo

A few pillar stocks supported the market. Vinamilk (VNM) gained 1.5 per cent, while Vincom Corp. (VIC) and Masan Group (MSN) were slightly up. Banking shares and other major stocks like FPT Corp. (FPT), Hoang Anh Gia Lai (HAG), Saigon Securities Inc. (SSI) saw slight fall of around 1 per cent.

Some speculative stocks even rallied back, among them Hoang Quan Consulting- Trading-Service Real Estate Corp (HQC) adding 2.08 per cent, Sacom Development and Investment Corp (SAM) 1.69 per cent, Binh Duong Trade and Development (TDC) 2.13 per cent and PetroVietnam Finance (PVF) 2.61 per cent with large bidding volumes.

“After several sinking sessions, several driving stocks supported the market until the session’s end,” said FPT Securities.

However, decliners still outran advancers 115 to 98 on the southern bourse. Among them 32 hit the floor and 19 hit the ceiling.

Liquidity tumbled on investors’ cautious sentiment. Total volume stood at 27.8 million shares worth VND460.5 billion ($20.7 million), of which put-through value made up VND145 billion ($1.1 million). Military Bank (MBB) outperformed the market with 1.2 million shares matched. Banking shares continued to be bought strongly by foreigners.

Hanoi Stock Exchange (HNX) lost 0.71 points or 1.06 per cent to 66.43 points, dragged by selling pressures on securities company shares. SME Securities (SME) was sold off today on investors’ concerns that the brokerage might lose its liquidity. The stock hit the ceiling to VND3,200 with a large offer volume at the session’s end. Kim Long Securities (KLS), Bao Viet Securities (BVS) and VNDirect Securities (VND) along with driving stocks also ended lower.

Decliners outran advancers 108 to 98, while 187 stocks unchanged. Total volume declined further to 27.4 million shares worth VND288 billion ($13.9 million).