Rally runs out of steam

Half the top active tickers fell back on Ho Chi Minh Stock Exchange (HoSE), led by real-estate tickers. Tan Tao Investment Industry Corp. (ITA) and Licogi 16 (LCG) lost nearly 3 per cent each, while Kinh Bac City Development Share Holding Corp. (KBC) dropped 3.7 per cent.

Small-cap stocks massively fell on strong locking profit activities. Real estate tickers Vietnam Electricity Construction (VNE), Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), Sao Mai Construction Corp. (ASM), PetroVietnam Transportation Corp. (PVT), Hoa Binh Construction & Real Estate Corp. (HBC), and mineral tickers Binh Thuan Mineral Industry (KSA), Tay Bac Minerals Investment (KTB), Nari Hamico Minerals (KSS) sharply fell or even hit the floor.

Half the southern bourse declined, namely 135 stocks were off compared with 88 up and 89 unchanged. Matching value also reduced to VND432.6 billion ($20.8 million). Total liquidity stayed at 44.1 million shares worth VND473.1 billion ($22.7 million) on the southern bourse.

However, some large-cap stocks turned head to advance today on strong demand for shares. Bao Viet Holdings (BVH) jumped 3.92 per cent with nearly 700,000 units matched while Vietinbank (CTG) gaining more than 2 per cent. Masan Group (MSN) and FPT Corp. (FPT) also ended up.

Whereas, numerous speculative stocks in real estate and mineral sectors continued rallying. The benchmark VN-Index ended slightly up 0.11 points or 0.03 per cent to 391.19 points.

Of the same situation, Hanoi Stock Exchange (HNX) saw decliners outran advancers 105 to 87, while number of un-traded stocks increasing back to 128 stocks.

Speculative cash flow continued increasing, reaching VND330.2 billion ($15.9 million). Trading volume strongly surged to 62.6 million shares worth VND341.6 billion ($16.4 million).

However, speculative flow just keep rallying trend for a number of stocks including Saigon-Hanoi Bank (SHB), Vietnam German Steel Pipe (VGS), PetroVietnam Finance Land (PFL), FLC Group (FLC), Vietnam Industrial & Commercial Securities Corp. (VIG). Asia Commercial Bank (ACB) also suddenly surged today. Other top active stocks dropped back or moved sideways.

HNX-Index advanced 0.22 points or 0.41 per cent to close at 54.08 points.