Speculative stocks turn heads

October 09, 2012 | 17:00

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Two bourses ended higher after significant fluctuations Tuesday with rally in speculative stocks.

Matching values continued to improve, totaling VND659 billion ($31.8 million). Ho Chi Minh Stock Exchange (HoSE) had 38.7 million shares worth VND599.5 billion ($28.9 million) changing hands, while Hanoi Stock Exchange (HNX) having 32.5 million shares worth VND232.7 billion ($11.2 million) traded.

Speculative flows continued flew into small-cap and mid-cap stocks. PetroVietnam Construction (PVX) had 5.5 million shares matched, outperforming the HNX. The stock hit the ceiling today.

Saigon Commercial Real Estate (SCR), VNDirect Securities (VND) and Asia Commercial Bank (ACB) had more than 2 million shares matched each.

On the HoSE, Sacom Development and Investment Corp. (SAM) outperformed with more than 2 million shares matched. Tan Tao Investment Industry Corp. (ITA) and PetroVietnam Finance (PVF) followed with 1.8 million and 1.6 million units matched, respectively.

Low price real estate stocks continued rallied amidst the market correction. FLC Group (FLC), Song Da Infrastructure Construction (SDH), PetroVietnam-Nghe An Construction (PVA), Petroleum Saigon Construction And Investment (PSG) hit the ceiling on HNX, Saigon Infrastructure Real Estate Investment (SII), Tan Tao Investment Industry Corp. (ITA), Hoa Binh Construction & Real Estate Corp. (HBC), Petro Capital Infrastructure Investment (PTL), Thu Duc Housing Development (TDH) hit the ceiling on HoSE. Those stocks had hundreds of thousands units matched each.

Besides, some mineral stocks were strongly purchased. Nari Hamico Minerals (KSS) and Lao Cai Mineral Exploitation & Processing (LCM) sharply jumped some 4 per cent each. Bac Giang Exploitable Mineral (BGM) gained nearly 4 per cent although the stock are being put under alarm due to its lateness in reporting financial results.

In contrast, blue-chips and large-cap stocks largely eased back. Military Bank (MBB), Vietinbank (CTG) and Vietcombank (VCB) slightly shed while Eximbank (EIB) ending flat. Masan Group (MSN) was off while Vinamilk (VNM) unchanged.

Overall, 121 stocks gained on HoSE compared with 83 declining and 105 unchanged. Meanwhile, 92 stocks were up on HNX and 86 down, while 216 stocks ending flat. Some 134 stocks were untraded on the northern bourse.