Market sends mixed signals

October 18, 2012 | 17:00

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Stock market ended mixed Thursday as both buyers and sellers remained cautious.

Ho Chi Minh Stock Exchange (HoSE)’s VN-Index advanced 1.49 points or 0.38 per cent to 398.51 points, while Hanoi Stock Exchange (HNX)’s HNX-Index declining 0.11 points or 0.2 per cent to 55.82 points.

Matching value of HNX significantly reduced to VND180.9 billion ($8.7 million) from more than VND200 billion ($9.7 million) in yesterday session.

Cautious sentiment lasted throughout the session, with buyers hesitant to order high price but sellers reducing cheap shares supply.

Meanwhile, foreigners turned to net selling on local market making investors more cautious. Foreign investors made net selling of VND3.7 billion ($408,200) on HoSE and of VND6.1 billion ($294,700) on HNX today. They net sold Eximbank (EIB), Vietcombank (VCB) and Saigon Securities Inc. (SSI) while net bought Tan Tao Investment Industry Corp. (ITA), Masan Group (MSN), Vietinbank (CTG) and Military Bank (MBB).

Kinh Bac City Development Share Holding Corp. (KBC) hit the ceiling for the seventh straight session as bidding volume for the stock stayed high. Tan Tao Investment Industry Corp. (ITA) also hit the ceiling, outperforming HoSE again with as high as 7 million shares matched.

Several real-estate stocks were still in high demand. Hoang Quan Consulting – Trading – Service Real Estate Corp. (HQC) gained 2.5 per cent, Sao Mai Construction Corp. (ASM) 1.15 per cent while PetroVietnam Construction (PVX) and FLC Group (FLC) hitting the ceiling on HNX.

IDJ International Financial Investment and Enterprise Development (IDJ) and Petro Vietnam Power Land (PVL) also jumped with big bidding volumes on the northern bourse.

Whereas several stocks ended of on locking profits pressure, among them Danang Rubber (DRC), Binh Dinh Minerals (BMC), Binh Thuan Mineral Industry (KSA), Lam Son Sugar (LSS). Large-cap stocks Petrovietnam Fertilizer and Chemical Corp. (DPM) and Military Bank (MBB) also fell.

Advancers and decliners ran evenly on HoSE at 102 stocks each. Of the same trend, 95 stocks were up and 97 were down on HNX.

Put-through sharply reduced against yesterday’s session. At the close, some 35 million shares worth VND450 billion ($21.7 million) were traded on the southern bourse. The figure was of 30.4 million shares worth VND207.2 billion ($10 million) on HNX.