Market finds its feet

Sacom Development and Investment Corp (SAM) suddenly outperformed the Ho Chi Minh Stock Exchange (HoSE) with more than 5 million shares matched. The stock hit its ceiling to VND6,600.

PetroVietnam-Idico Long Son Industrial Park Investment (PXL),Vietnam Electricity Construction (VNE) and other low-price speculative stocks like mineral stocks Nari Hamico Minerals (KSS), Bac Giang Exploitable Mineral (BGM), real estate stocks Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), Ninh Van Bay Real Estate (NVT) strongly rallied, with 1-2 million shares matched each. Those stocks all sharply jumped.

HoSE’s VN-Index significantly advanced 5.16 points or 1.13 per cent to 459.26 points, despite the fall of several blue-chips. Some 184 stocks ended higher on the southern bourse, while 69 wrer off and 56 unchanged.

Hanoi Stock Exchange (HNX) saw strong gains for securities company shares, particularly low-price shares.

Saigon-Hanoi Securities Inc. (SHS) added 3.03 per cent, Wall Street Securities (WSS) 2.09 per cent, Haiphong Securities (HPC) 3.51 per cent, while Au Viet Securities Corp. (AVS) jumped 5.66 per cent, Asia Pacific Securities (APS) 6 per cent and Vietinbank Securities (CTS) 6.19 per cent.

Shares of major brokerage Kim Long Securities (KLS) were off and Bao Viet Securities (BVS), VNDirect Securities (VND) both ended flat.

Numerous low-price stocks like IDJ International Financial Investment and Enterprise Development (IDJ), SongDa Infrastructure Construction (SDH), South East Asia Hamico Export (KSD) sharply jumped with active trading volumes.

Liquidity reached as much as 102.9 million shares worth VND1.04 trillion ($50.1 million) on HNX.

Demand for shares kept strong throughout the session on the northern bourse, but the HNX-Index added just 0.15 points or 0.19 per cent to 77.72 points due to the falls of large-cap stocks like Habubank (HBB) and PetroVietnam Construction (PVX), KLS.

Numerous major stocks also fell on the HoSE, among them financial stocks Eximbank (EIB), Military Bank (MBB), Vietcombank (VCB), Saigon Securities Inc. (SSI). Liquidity reached 93.9 million shares worth VND1.28 trillion ($61.8 million) on the HoSE.