Market stops its free fall

Driving stocks were strongly bought up on the Hanoi Stock Exchange (HNX) at the session’s end, among them securities company shares VnDirect Securities (VND), Kim Long Securities (KLS) and Bao Viet Securities (BVS) adding 1-2 per cent. The benchmark HNX-Index added 0.08 points or 0.11 per cent to close at 70.46 points.

Investors boosted buying in a few small-cap stocks like Tasco (HUT), Quang Nam Mineral Industry Corp. (MIC), Simco Song Da (SDA), Post and Telecommunication Equipment (POT), pushing these stocks.

Decliners significantly reduced to 126 stocks, while advancers amounted to 100 on the HNX. Some 166 stocks ended flat.

Also, small-cap stocks rallied on the Ho Chi Minh Stock Exchange (HoSE). Post and Telecommunications Investment and Construction (PTC) hit the ceiling to VND17,000, outperforming the bourse with 1.4 million shares traded.

Pha Lai Thermal Power (PPC), Petro Capital Infrastructure Investment (PTL), Mientrung Petroleum Construction (PXM) and Thuan Thao Corp. (GTT) – speculative stocks with below-par-value prices – were also among stocks being bought the most today.

Meanwhile, the stock market kept falling thanks to unfavorable economic movements throughout the world. The HoSE’s VN-Index shed 3.49 points (0.93 per cent) further today, accounting for the fifth straight falling session.

Investors continued selling stocks which they had aggressively bought last week, particularly Becamex Infrastructure Development (IJC), PetroVietnam-Idico Long Son Industrial Park Investment (PXL) and Binh Duong Trade and Development (TDC).

Blue-chips Saigon Securities Inc. (SSI), Vietcombank (VCB), Vietinbank (CTG), Hoang Anh Gia Lai (HAG), Masan Group (MSN) steadily fell, while Bao Viet Holdings (BVH) and PetroVietnam Fertilisers (DPM) were unchanged.

Cash flows continued leaving the market, with trading volume dipping to 28.4 million shares worth VND485.7 billion ($23.7 million) on the southern bourse.

Liquidity stood at 32.8 million shares worth VND323.4 billion ($15.8 million) on the HNX.