Pillars support sagging HoSE

Masan Group (MSN) hit the ceiling with 90,000 shares traded, while FPT Corp. (FPT) sharply rose 4.08 per cent. Kinh Bac City Development Share Holding Corp. (KBC) jumped 3.29 per cent after hitting the floor yesterday.

Refrigeration Electrical Engineering Corp. (REE) and Sacombank (STB) ended significantly higher.

The benchmark VN-Index climbed 0.33 points or 0.08 per cent to 430.32 points, although 120 stocks shed on the southern bourse. The advancers were 65 stocks.

Among the losers, Vincom Corp. (VIC) shed 1.47 per cent to VND134,000 while Bao Viet Holdings (BVH) off 0.68 per cent. Major stocks Hoang Anh Gia Lai (HAG), Song Da Urban & Industrial Zone Investment and Development (SJS), PetroVietnam Finance (PVF) massively fell.

Both the sellers and buyers were cautious today, dragging liquidity down further to 20.1 shares. Values reached as low as VND330 billion ($15.9 million).

Put-through volumes stood at 4.22 million shares worth VND59 billion ($2.9 million), with Eximbank (EIB) and Thac Mo Hydropower (TMP) active the most.

STB outperformed the market with 1.8 million shares changing hands. International Development and Investment Corp (IDI) followed with 1.3 million units traded. Trading volumes of Saigon Securities Inc. (SSI) reduced to 740,000 shares.

“Investors were very dispirited and are increasingly turning from buying to selling, despite very low price levels,” said Hanoi Securities.

Hanoi Stock Exchange’s (HNX) HNX-Index lost 0.2 points or 0.28 per cent to 72.84 points, after 146 stocks easing back and 89 advancing.

Liquidity was improved with 19.7 million shares worth VND216 billion ($10.4 million) traded.

Investors remained focused on Kim Long Securities (KLS), VnDirect Securities (VND), PetroVietnam Construction (PVX) and PetroVietnam Power Land (PVL). However, those stocks along with other major stocks all sunk into the red.