Poor liquidity blights bourses

June 20, 2012 | 18:00

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The two bourses slightly added Wednesday, but cautious sentiment translated into weak liquidity.

Ho Chi Minh Stock Exchange’s (HoSE VN-Index ended up 1.8 points or 0.42 per cent to 432.89 points after significantly fluctuating during the session. The Hanoi Stock Exchange (HNX) climbed 0.28 points or 0.38 per cent to 74.36 points.

Advancers outran decliners on both bourses. HoSE saw 123 stocks up and 88 off, while HNX witnessed 134 gainers and 69 decliners.

However, sentiment remained quiet resulting in low liquidity. Matching values fell to just VND427.5 billion ($20.7 million) on the main bourse and VND212.7 billion ($10.3 million) in Hanoi.

HoSE’s total liquidity reached 34 million shares worth VND615.5 billion ($29.7 million). HNX’s liquidity stood at 24 million shares worth VND261.4 billion ($12.6 million).

Additionally, HoSE’s rise was partly supported by foreigners’ purchasing. Those investors focused on a number of blue-chips like PetroVietnam Gas (GAS), Vietcombank (VCB), Eximbank (EIB), FPT Corp. (FPT), Sacombank (STB).

The Hanoi Statistics Office released negative consumer price index (CPI) growth yesterday, in which the figure declined by 0.17 per cent in June against May. The result weighed on ongoing concerns about the local enterprises’ stagnant situation.

The transaction focused on major stocks. Sacombank (STB) outperformed the HoSE with 2.5 million shares matched, followed by Tan Tao Investment Industry Corp. (ITA) and Saigon Securities Inc. (SSI) at more than one million shares each.

The market ended mixed in all groups of stocks. Bao Viet Holdings (BVH), PetroVietnam Gas (GAS), PetroVietnam Fertilisers (DPM) along with financial stocks Vietcombank (VCB), Eximbank (EIB), Sacombank (STB), PetroVietnam Finance (PVF) and SSI ended up while the others off or unchanged.

Several speculative stocks in real estate sectors still added up, among them Locogi 16 (LCG), Sao Mai Construction Corp. (ASM), International Development and Investment Corp (IDI), Vietnam Electricity Construction (VNE), Development Investment Construction (DIG). A number of “hot” stocks in rubber and mineral stocks keep advancing as well.

Hanoi bourse’s also saw transaction focused on leading stocks like VNDirect Securities (VND), Vietnam Construction and Import-Export (VCG), Habubank (HBB), Saigon-Hanoi Bank (SHB) but those stocks largely ended flat of just slightly added.