NA policies fail to spark confidence

November 22, 2012 | 17:00
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Cash flows continued being strongly withdrawn Thursday as policies from National Assembly failed to encourage investors.

Matching value of Hanoi Stock Exchange (HNX) reduced more than 20 per cent further to VND64.4 billion ($3.1 million). The value had reduced 28 per cent yesterday from already low levels.

Meanwhile on Ho Chi Minh Stock Exchange (HoSE), the value kept at VND181.6 billion ($8.7 million). No stocks had matching volume of over 1 million units.

Put-through value was low as well. HoSE’s liquidity was of 18.2 million shares worth VND207.5 billion ($10 million) and that of HNX reached 18.5 million shares worth VND91.9 billion ($4.4 million).

Large-cap stocks ended mixed, with Kinh Do Corp. (KDC), Kinh Bac City Development Share Holding Corp. (KBC), Refrigeration Electrical Engineering Corp. (REE), PetroVietnam Drilling and Well Services (PVD) slightly declining, while PetroVietnam Fertilisers (DPM), PetroVietnam Gas (GAS), Hoa Phat Group (HPG) advancing.

Financial stocks also ended mixed, among them Sacombank (STB) and Vietcombank (VCB) both declined, Saigon Securities Inc. (SSI), Bao Viet Holdings (Bao Viet Holdings (BVH)), Military Bank (MBB) and Vietinbank (CTG), were unchanged while Eximbank (EIB) gaining.

Pennies attracted speculative buyers the most amidst the drying out market. Low price stocks in real estate and mineral sectors massively advanced today.

Duc Long Gia Lai Group (DLG), whose price fell to just VND3,400 per share, was active the most on HoSE today with just more than 700,000 units matched. The ticker gained 3.03 per cent.

Cheap real estate tickers Hoa Binh Construction & Real Estate Corp. (HBC), Dat Xanh Real Estate Service & Constructions Corp. (DXG), Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), Vietnam Electricity Construction (VNE), International Development and Investment Corp. (IDI) strongly jumped.

Mineral stocks Bac Giang Exploitable Mineral (BGM), Tay Bac Minerals Investment (KTB), Nari Hamico Minerals (KSS), Lao Cai Mineral Exploitation & Processing (LCM) ended up or even hit the ceiling, with comparatively high liquidity.

Advancers outran decliners 104 to 81 on the southern bourse and 125 stocks were unchanged. However, the benchmark VN-Index still declined 0.65 points or 0.17 per cent to 382.22 points on weak performance of large-cap stocks.

Meanwhile, leading sentiment stocks of HNX largely turned to green rhythm. Saigon-Hanoi Bank (SHB), VNDirect Securities (VND), Bao Viet Securities (BVS) saw modest gains.

Advancers outran decliners 106 to 71 on the northern bourse. The benchmark HNX-Index advanced 0.17 points or 0.33 per cent to 51.58 points.

By Hai Linh

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