Market turns the corner

July 05, 2012 | 18:00

(0) user say

The market saw speculative inflows suddenly increase Thursday after a long series of falling sessions.

The inflows significantly improved on the Hanoi Stock Exchange (HNX). The benchmark HNX-Index gained 1.73 points or 2.54 per cent to 69.8 points. Matching value also rose to VND295.9 billion ($14.3 million), up more than a third compared with the previous session.

Also, the VN-Index was slightly up 3.1 points or 0.75 per cent to 413.83 points on the southern bourse. But, matching values remained weak at VND339 billion ($16.4 million).

Total liquidity reached 31.5 million shares worth VND463.8 billion ($22.4 million) on HoSE and hit 39.3 million shares worth VND336.4 billion ($16.2 million) on the HNX.

On the HNX, a mass of leading stocks suddenly hit the ceiling today, among them VNDirect Securities (VND), PetroVietnam Construction (PVX), Habubank (HBB), Kim Long Securities (KLS) and Bao Viet Securities (BVS).

VNDirect Securities (VND) even outperformed the market with as high as 6.4 million units matched.

High-liquid speculative stocks also sharply jumped. Saigon-Hanoi Bank (SHB), Saigon-Hanoi Securities (SHS), Vietnam Construction and Import-Export (VCG), Petro Vietnam Power Land (PVL), PetroVietnam-Nghe An Construction (PVA), Dai Chau JSC (DCS) all soared 6-7 per cent each.

The rising momentum expanded to other stocks in the end of the session, pushing 187 stocks up on the northern bourse. Some 64 stocks ended off. Securities company shares and speculative pennies rose the most on the rebounding session.

Hanoi’s rebound also help a series of speculative stocks jumped back on HoSE. Saigon Securities Inc. (SSI), Ocean Group (OGC), Sacom Development and Investment Corp. (SAM) all soared more than 4 per cent with more than 1 million shares matched each. Tan Tao Investment Industry Corp. (ITA) outperformed the market with 1.6 million shares matched and advanced 3.13 per cent.

“Hot” pennies like Sao Mai Construction Corp. (ASM), Vietnam Electricity Construction (VNE), Ninh Van Bay Real Estate (NVT), Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC) along with a number of mineral stocks and rubber stocks largely hit the ceiling.

But large-cap and banking stocks stayed unchanged or just slightly climbed.