Mineral stocks show the way

June 01, 2012 | 18:00
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Mineral stocks turned to rise amidst a continuing lackluster market on Friday.

Tay Bac Minerals Investment (KTB), Nari Hamico Minerals (KSS), Bac Giang Exploitable Mineral (BGM), Binh Thuan Mineral Industry (KSA) massively hit the ceiling on the Ho Chi Minh Stock Exchange (HoSE) with large matching volumes. Hamico Group Mineral (KSH) jumped more than 4 per cent.

Cavico Industry and Minerals (CMI), Quang Nam Mineral Industry Corp. (MIC), Bac Kan Mineral Joint Stock Corp. (BKC) also rallied on Hanoi Stock Exchange (HNX).

A few speculative stocks strongly rose. Vegetable Oil Packing (VKP) hit the ceiling for the fifth straight session, but selling orders started to increase today. Mirae (KMR) hit the ceiling with some 650,000 units matched. Some real estate pennies like Urban Development and Construction Corp. (UDC), Petro Capital Infrastructure Investment (PTL) slightly advanced.

Meanwhile, the market continued its quiet sentiment with low liquidity and prices falling today.

HoSE’s VN-Index was off 0.4 points or 0.09 per cent to 428.8 points, although the benchmark had turned to positive territory almost throughout the session.

Demand for shares remained weak. HoSE saw 72.2 million shares worth VND1.3 trillion ($62.8 million) traded, but just VND530 billion ($25.6 million) worth of shares were matched.

High negotiating value was helped by Sacombank (STB) with 26.3 million shares worth VND658.7 billion ($31.8 million) changing hands.

Major stocks ended mixed, with Bao Viet Holdings (BVH) and Masan Group (MSN) slightly climbing, Vincom Corp. (VIC), PetroVietnam Gas (GAS), PetroVietnam Fertilizers (DPM) unchanged, while PetroVietnam Drilling and Well Services (PVD), along with financial stocks Saigon Securities Inc. (SSI), PetroVietnam Finance (PVF), Eximbank (EIB) lost some 2-3 per cent each.

Decliners outran advancers 130 to 101 on the bourse.

The HNX-Index slightly added thanks to the gains of securities companies shares VNDirect Securities (VND), Wall Street Securities (WSS), Asia-Pacific Securities (APS), Au Viet Securities Corp. (AVS), along with the advances of several pennies.

HNX-Index added 0.92 points or 0.39 per cent to 74.36 points, after advancers outrunning decliners 130 to 87. Meanwhile, liquidity has not yet improved, staying low at 31.4 million shares worth VND315.4 billion ($15.2 million).

By Hai Linh


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