Market still warm from hot STB trading

The VN-Index of the main bourse gained 5.36 points or 1.58 per cent to end at 344.68 points. Matching volume soared to 24.7 million shares worth VND315 billion ($15.2 million), pushing up total volume to 36.5 million shares worth VND500 billion ($24.2 million).

The sudden rebound came awake of yesterday’s dramatic session, when STB saw an enormous volume of 148 million shares negotiated and supporting the market.

The banking stock saw some 5.6 million shares negotiated today.

Investors strongly increased their demand for shares, with more than half the market ending higher. Bao Viet Holdings (BVH) and Saigon Securities Inc. (SSI) were strongly bought, hitting the ceiling.

Tan Tao Investment Industry Corp. (ITA) and Japan Vietnam Medical Instrument (JVC) both sharply gained with more than one million shares matched each.

Real estate stocks were among top rallying ones, with Becamex Infrastructure Development (IJC), Tu Liem Urban Development (NTL), Ocean Group (OGC), Licogi 16 (LCG) all hit ceiling or nearly hitting the ceiling.

Financial shares meanwhile largely gained 1-2 per cent. Vietinbank (CTG) jumped 3.31 per cent. Production stocks just slightly added.

Overall, some 167 stocks were higher on HoSE with 72 hitting the ceiling, compared with 48 off and 90 unchanged.

The HNX-Index of Hanoi Stock Exchange (HNX) also gained 0.88 points or 1.59 per cent to close at 56.15 points, driven by the strong surges of securities company stocks and some other major stocks.

VNDirect Securities (VND), Bao Viet Securities (BVS), Kim Long Securities (KLS), Saigon-Hanoi Securities (SHS) massively hit the ceiling with no offering volumes remaining at the close. Trading volumes of those stocks, however, kept weak at just some 600,000 to two million shares each.

Banking shares Habubank (HBB) hit the ceiling, Saigon-Hanoi Bank (SHB) gaining 3.51 per cent,.
Liquidity improved rising to 28.3 million shares worth VND255.4 billion ($12.3 million), among them 8.8 million shares worth VND119 billion ($5.7 million) were negotiated. Just 46 stocks were off, while up to 194 stocks ended higher.