Speculative stocks come to the rescue

October 06, 2011 | 15:00
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Speculative stocks strongly jumped Thursday, pushing both bourses up after previous falls.

Demand for Becamex Infrastructure Development (IJC), PetroVietnam-Idico Long Son Industrial Park Investment (PXL), Lao Cai Mineral Exploitation & Processing (LCM) and Mientrung Petroleum Construction (PXM) overwhelmed selling pressures as those stocks had fallen deeply in previous sessions, pushing those stocks up 3-4 per cent.

Large-cap speculative stocks Tan Tao Investment Industry Corp. (ITA), Refrigeration Electrical Engineering Corp. (REE), Sacom Development and Investment Corp. (SAM), Saigon Securities Inc. (SSI) were strongly bidded for.

SSI gained 2.66 per cent, SAM 2.99 per cent, REE 2.54 per cent and ITA 4.26 per cent on the Ho Chi Minh Stock Exchange (HoSE).

On the Hanoi Stock Exchange (HNX), securities company shares largely rose, led by VnDirect Securities (VND) hitting the ceiling. Lower-than-par-value stocks Wall Street Securities (WSS) and Au Viet Securities (AVS) were among stocks most bid for today, while large-cap stocks Kim Long Securities (KLS) and Bao Viet Securities (BVS) modestly advanced.

A mass of low price shares like IDJ International Financial Investment and Enterprise Development (IDJ), PetroVietnam Power Land (PVL), Thai Hoa Vietnam Group (THV), Song Da Investment and Construction (SDD) rallied on the HNX.

Meanwhile, major stocks like Vincom Corp. (VIC), Hoang Anh Gia Lai (HAG), Hoa Phat Group (HPG) and financial shares like Vietinbank (CTG), Vietcombank (VCB) saw just small gains. FPT Corp. (FPT) lost 0.99 per cent to VND50,000.

At the close, the HoSE’s VN-Index gained 4.11 points or 0.99 per cent to 421.32 points, ending the six straight falling sessions. As many as 196 stocks ended higher on the bourse, compared with 41 off and 64 unchanged.

Trading volume increased to 39.4 million shares, worth VND663 billion ($32.3 million).

The HNX-Index jumped 2.5 points or 1.76 per cent to 72.1 points, after 218 stocks climbed and 51 slipped. Liquidity reached 36 million shares worth VND368.8 billion ($17.8 million).

By Hai Linh

vir.com.vn

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