Market hits turbo button

February 28, 2012 | 17:00

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Trading volumes hit a record high Tuesday with holders rushing to lock in profits and buyers demanding shares.

The total trading volume of the Hanoi Stock Exchange (HNX) hit an all-time high of 135.7 million shares, worth VND1 trillion ($48.3 million). The volume on the Ho Chi Minh Stock Exchange (HoSE) reached 121.7 million shares, the third-highest level of the bourse. The HoSE’s value was VND1.7 trillion ($82.1 million).

Among them, put-through volume made up 37.2 million shares worth VND637.8 billion ($30.8 million) on the HoSE. Particularly, Eximbank (EIB) had 32.5 million shares worth VND579 billion ($28 million) negotiated. The banking stock also had 4.1 million shares matched.

Of the matching transaction, Habubank (HBB) saw a dramatically high matching volume of 40 million shares today. The banking share ended flat at VND5,500 per share.

Dozens of leading stocks had millions of units matched each.

Besides, a strong cash flow continued flowing in speculative low-price stocks. Sacom Development and Investment Corp (SAM), Nari Hamico Minerals (KSS), PetroVietnam-Idico Long Son Industrial Park Investment (PXL), Ninh Van Bay Real Estate (NVT), Vietnam Electricity Construction (VNE) and Vietnam Mechanisation Electrification and Construction (MCG) also had 2-3 millions shares matched each.

Low-price stocks of the northern bourses like IDJ International Financial Investment and Enterprise Development (IDJ), Wall Street Securities (WSS), Hanoi Investment General Corp. (SHN), Saigon-Hanoi Securities (SHS) even saw 3-4 million shares matched each.

The holders aggressively sold out for locking profits today, pushing down most stocks. HoSE’s VN-Index strongly dropped 6.19 points or 1.44 per cent to 422.22 points. HNX’s HNX-Index lost up to 2.07 points or 2.99 per cent to 67.09 points.

Up to 189 stocks ended lower on the HoSE, compared with just 65 advancing. Most major stocks sharply fell, with 11 stocks among 30 blue-chips of VN30 package hitting the floor. Eximbank (EIB) and Sacombank (STB) gained.

Some 205 stocks lost on the HNX, with 79 gaining. The northern bourse also saw the sharp falls of most large-cap stocks. But a number of penny stocks like PetroVietnam Power Land (PVL), South East Asia Hamico Export (KSD), Song Da No 9.06 (S96), Asia-Pacific Securities (APS) still jumped with 1-2 million shares matched each.