Market finds its voice

December 12, 2012 | 17:00

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The stock market suddenly recovered at the end of Wednesday’s session from cautious sentiment.

Saigon-Hanoi Bank’s (SHB) trading volume sharply soared to nearly 14 million shares.

The ticker hit the ceiling leading up other tickers on the Hanoi Stock Exchange (HNX).

Massive speculative tickers also soared with suddenly high bidding volumes. Saigon Commercial Real Estate (SRC), VNDirect Securities (VND), PetroVietnam Construction (PVX), Saigon-Hanoi Securities (SHS), FLC Group (FLC), Vietnam Construction and Import-Export (VCG) jumped or even hit the ceiling with millions units matched each.

Demand for shares also accelerated in pennies like Vietnam Industrial & Commercial Securities Corp. (VIG), Vietnam German Steel Pipe (VGS), PetroVietnam-Nghe An Construction (PVA), Petro Vietnam Finance Land (PFL).

Cash quickly flew in the market at the end of the session. HNX liquidity reached 57.5 million shares worth VND320.2 billion ($15.4 million), with the matching value reaching VND300 billion ($14.4 million).

Some 187 stocks were up, making up half of the northern bourse. Just 55 stocks declined and 154 stayed unchanged. The HNX-Index ended at 53.86 points, up 1.14 points or 2.16 per cent against previous session.

Green expanded more broadly on the Ho Chi Minh Stock Exchange (HoSE), with 174 stocks up compared with just 39 off and 99 unchanged.

A dozen tickers saw matching values jumping to over 1 million shares on the southern bourse. Licogi 16 (LCG) and Tan Tao Investment Industry Corp. (ITA) outperformed with more than 2 million shares matched each, followed by PetroVietnam Finance (PVF) and Saigon Securities Inc. (SSI) at 1.9 million shares matched each.

Among the blue chips, Bao Viet Holdings (BVH) hit the ceiling with nearly 600,000 units matched, while Masan Group (MSN) and Vinamilk (VNM) slightly falling. Banking stocks also kept moving sideways.

Large-cap real estate tickers Song Da Urban & Industrial Zone Investment and Development (SJS) and Hoang Anh Gia Lai (HAG) modestly advanced, while Vincom Group (VIC) dropped.

Because of large-cap stocks’ modest performances, the VN-Index just gained 1.71 points or 0.44 per cent to 391.08 points. Liquidity reached 47.2 million shares worth VND523.9 billion ($25.2 million), among them matching value reaching VND475.9 billion ($22.9 million).