Speculative stocks provide momentum

August 08, 2012 | 17:00

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The stock market ended up Wednesday thanks to the rise of several speculative stocks.

The VN-Index of Ho Chi Minh Stock Exchange (HoSE) added 1.07 points or 0.25 per cent to end at 423.57 points.

Massive small-cap stocks hit the ceiling thanks to big bidding volumes, among them mineral stocks Tay Bac Minerals Investment (KTB), Nari Hamico Minerals (KSS) and Binh Thuan Mineral Industry (KSA). Matching volume of Tay Bac Minerals Investment (KTB) amounted to 1.2 million shares.

Real estate and constructions tocks Ho Chi Minh City Infrastructure Investment (CII) hit the ceiling. Vietnam Electricity Construction (VNE) advanced 2.63 per cent, PetroVietnam-Idico Long Son Industrial Park Investment (PXL) 2.33 per cent, while Sao Mai Construction Corp. (ASM) gaining 0.84 per cent.

Tan Tao Investment Industry Corp. (ITA) outperformed the market with 1.4 million shares matched, climbing 1.47 per cent.

Sacombank Securities (SBS) hit the ceiling with some 400,000 units changing hands.

Some 131 stocks rose on the southern bourse in this session, compared with 78 declining. Some 100 stocks were unchanged. Matching value remained low at VND320.2 billion ($15.5 million). Total trading value was of just VND349.5 billion ($16.9 million).

Major stocks largely stayed modest in this session. Banking stocks Vietcombank and Sacombank (STB) slightly advanced. Other blue-chips like PetroVietnam Gas (GAS), Vincom Group (VIC), Kinh Do Corp. (KDC) just gained less than 1 per cent each.

Speculative cash flow proved more active on Hanoi Stock Exchange (HNX). HNX-Index was up 0.9 points or 1.29 per cent to 70.48 points, after 143 advancers outrunning 67 decliners there.

Matching value reached VND260.9 billion ($12.6 million). Particularly, big put-through value helped total liquidity reaching 39.6 million shares worth VND529.5 billion ($25.6 million) on the northern bourse.

Transaction still focused on a number of highly-liquid stocks. VNDirect Securities (VND) outperformed the market with 3.4 million shares matched, rising 2.7 per cent.

Habubank (HBB), Saigon-Hanoi Securities (SHS), Kim Long Securities (KLS), Saigon Commercial Real Estate (SCR) followed with 2-3 million shares matched each.