Market turns the corner

Ho Chi Minh Stock Exchange’s (HoSE) VN-Index shed 3.07 points or 0.84 per cent, ending at 364.48 points. Decliners still doubled advancers 160 to 71 on the main bourse, while 56 stocks ended flat.

Blue-chip stocks ended mixed, with Masan Group (MSN), Bao Viet Holdings (BVH) hitting the floor while Vincom Corp. (VIC) hitting the ceiling and Vinamilk (VNM) slightly adding.
Among real estate stocks, Song Da Urban & Industrial Zone Investment and Development JSC (SJS), Kinhbac City Development Share Holding Corp. (KBC) hit the ceiling, Ocean Group (OGC) gained, while Tu Liem Urban Development JSC (NTL), Hoang Anh Gia Lai (HAG), Licogi 16 (LCG) and Binh Duong Trade and Development (TDC) dropped.

Sacombank (STB) strongly outperformed the market with up to 3.4 million shares matched today. The stock, along with other banking stocks Military Bank (MBB) and Eximbank (EIB), ended flat.

The market fluctuations were in line with analysts’ expectations, as the market started to fell to attractive prices areas.
Liquidity soared to 40.5 million shares worth VND688.42 billion ($33.3 million). Whereas, put-through volume declined to 6.8 million shares worth VND221.18 billion ($10.7 million).

Volumes of several stocks jumped today, mainly major stocks like Saigon Securities Inc. (SSI), Tan Tao Investment Industry Corp. (ITA), PetroVietnam Fertiliser and Chemical Corp. (DPM) and banking shares.

Also, major shares were strongly active on the northern Hanoi Stock Exchange (HNX). Matching volumes of Kim Long Securities (KLS), VNDirect Securities (VND) and PetroVietnam Construction (PVX) jumped to three million shares each. Saigon-Hanoi Bank (SHB) and Habubank (HBB) were also among top active stocks.

The market sunk in red with 209 stocks ending off, while as low as 37 stocks up. The benchmark HNX-Index ended at 58.9 points, down 0.74 points or 1.24 per cent.

Liquidity sharply rose to 38.6 million shares worth VND311 billion ($15.1 million).