Pillars stand tall as others fall

The two banking shares gained more than 1 per cent each. STB outperformed the market, with 1.6 million shares matched, amid speculation around the bank’s plan to buyback up to 10 per cent of its stake. The bank’s shares saw more than 12 million units changed hands via put-through method this session.

Also, MBB was among the most active with more than one million shares changing hands.
The market, however, continued sunk.

Ho Chi Minh Stock Exchange (HoSE) strongly dropped for the third trading day with VN-Index off 4.73 points or 1.18 per cent to 396.3 points.

Other banking shares slightly shed or ended flat. Financial shares Saigon Securities Inc. (SSI) was off 0.6 per cent, while PetroVietnam Finance (PVF) hit the floor. The three major real estate stocks Hoang Anh Gia Lai (HAG), Song Da Urban & Industrial Zone Investment and Development (SJS) and Kinhbac City Development Share Holding Corp.

(KBC) all hit the floor today. Ocean Group (OCG) also significantly fell. Some 190 stocks ended lower with 75 hitting the floor on the HoSE. Speculative stocks also largely sunk today with volumes sharply reduced as compared to previous sessions. Meanwhile, just a small portion of 46 stocks advanced.

“There is still no supportive information to encourage new cash flowing to the market,” said FPT Securities. Liquidity, with large contributions from STB, rose to 37.3 million shares worth VND574.42 billion ($27.8 million). Matching volume is very weak at 21.9 million shares, worth VND292.7 billion ($14.1 million).

Hanoi Stock Exchange (HNX) lowered its falling momentum, down 0.22 points or 0.34 per cent to 63.6 points. Some 128 stocks were down on the northern bourse, while 74 stocks climbed and 193 ending flat.

Amid the fall of most major stocks, Asia Commercial Bank (ACB) slightly added 0.5 per cent while Hoa Binh Securities (HBS) and Golden Bridge Securities (GBS) also up. Total volume fell again to 21.4 million shares worth VND207 billion ($10 million).