Penny stocks source of excitement

Volumes on the Hanoi Stock Exchange (HNX), the bourse mainly serving small-cap and mid-cap stocks, reached 58.4 million shares with value hit VND701 billion ($33.86 million).

Despite buyers strongly bidding for numerous speculative stocks in the northern bourse, the buyers almost stopped selling out, pushing down the liquidity of these stocks.

Many penny stocks saw hundreds of thousands bid orders remaining.

Real estate shares remained hot stocks, with PetroVietnam Nghe An Construction (PVA) seeing more than one million bid orders outstanding and Song Da Investment Construction (SDD) saw 800,000 orders remaining.

Sacomreal’s (SCR) trading volume soared to 7.7 million shares, with more than 370,000 bid orders at ceiling remaining at the close.

Appetite for securities company shares was still strongest, in which Kim Long Securities had 3.6 million bid orders remaining. VnDirect Securities (VND) and Bao Viet Securities (BVS) also had millions bid orders not being matched as the sellers stopped selling out.

“Speculators have come back, with a mass of pennies especially ‘PetroVietnam-family’ stocks kept hitting continuously in recent sessions,” said Vietcombank Securities.

The benchmark HNX-Index gained 1.71 points or 2.21 per cent to 79.1 points, after up to 277 stocks rising and just 56 loosing on the bourse.

Low-price stocks also strongly rose on the main bourse Ho Chi Minh Stock Exchange (HoSE). PetroVietnam Transportation Corp. (PVT), Mien Trung PetroVietnam Construction (PXM) and the real estate stock Thuan Thao Corp. (GTT) all hit the ceiling.

Major stocks kept their lackluster trends. The buyers stopped bidding for the “hot” stocks Saigon Securities Inc. (SSI), with a number of offer orders remaining at today’s session.

Blue-chips Masan Group (MSN), Hoang Anh Gia Lai (HAG) and Hoa Phat Group (HPG) shed, while other blue-chips almost unchanged.

The VN-Index slightly advanced 1.05 points or 0.24 per cent to 455 points on the southern bourse, despite 205 stocks up and just 35 off. Liquidity on the bourse reached 41 million shares worth VND666.6 billion ($32.2 million).