Penny stocks stand by market

A mass of penny stocks hit the ceiling on large bidding volumes. Viky Plastic (VKP) – the stock with the lowest price at the moment – hit the ceiling to VND7,000 with up to 100,000 shares matched.

Penny stocks Basa (BAS), Van Phat Hung Corp. (VPH), Information and Networking Technology (CMT), An Pha S.G Petrol (ASP) suddenly jumped with tens of thousands units changing hands.

Bibica Corp. (BBC) and Japan Vietnam Medical Instrument (JVC) rallied with more than 200,000 shares traded each. Petro Capital Infrastructure Investment (PTL) sharply rose to VND4,900 on 176,000 units changing hands.

Also, several speculative stocks including also real estate stocks rose after deeply falling in previous sessions. Thuan Thao Corp. (GTT) added 1.52 per cent, Transport Engineering Construction & Business Investment 584 (NTB) 2.27 per cent, Binh Duong Trade and Development (TDC) 1.16 per cent, while Cotec Construction (CTD) was up 1.54 per cent to VND26,400.

Up to 105 stocks advanced on Ho Chi Minh Stock Exchange (HoSE) today, nearly equaling the decliners. “The VN-Index is moving around the supportive level 37-380 points level so the benchmark can strongly fluctuate in upcoming sessions,” said Asia Commercial Bank Securities (ACB). At the close, the VN-Index rose 1.57 points or 0.41 per cent to 383.35 points.

Some blue-chips like Bao Viet Holdings (BVH), Masan Group (MSN), Vincom Corp. (VIC) and Vinpearl Tourism and Trading (VPL) significantly advanced.

Most major stocks, however, still fell. Financial shares Vietcombank (VCB), Sacombank (STB), Eximbank (EIB), Military Bank (MBB) all ended lower, while Saigon Securities Inc. (SSI) was unchanged.

STB continued outperforming the market with 2.3 million shares matched. Some 5.5 million units of the stock were negotiated today. HoSE’s total trading volume was almost unchanged to 27.3 million shares worth VND405.7 billion ($19.6 million).

The Hanoi Stock Exchange (HNX) shed 0.12 points or 0.2 per cent to 61.15 points, after major stocks massively felling.

Liquidity stood at 19.2 million shares worth VND177.3 billion ($8.6 million).