Speculators return to market

November 13, 2012 | 17:00

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Speculative cash flows jumped into the Hanoi Stock Exchange (HNX) Monday in a market recovery session.

Trading value amounted to VND255.5 billion ($12.3 million) on the northern bourse, 80 per cent higher than that in previous session. Trading volume amounted to 50 million shares.

Buying power strongly increased in a number of cheap stocks. Saigon-Hanoi Bank (SHB) hit the ceiling with 9.7 million units matched. The banking ticker outperformed the HNX.

Matching value of Saigon Commercial Real Estate (SCR), Nam Viet Commercial Joint Stock Bank (NVB), VNDirect Securities (VND), PetroVietnam Construction (PVX) amounted to more than 3 million units each. Those stocks jumped 4-6 per cent each.

Securities company shares Asia-Pacific Securities (APS) hit the ceiling, Saigon-Hanoi Securities (SHS) was up 5.13 per cent, Bao Viet Securities (BVS) 4.26 per cent, Vietinbank Securities (CTS) 3.08 per cent.

Real estate tickers Vietnam Construction and Import-Export (VCG), FLC Group (FLC) hit the ceiling while Petro Vietnam Power Land (PVL) advancing 3.7 per cent.

Some 156 stocks advanced, compared with 49 declined and 189 stocks unchanged. The benchmark HNX-Index climbed 0.94 points or 1.82 per cent to 52.52 points.

Also, Ho Chi Minh Stock Exchange (HoSE) ended up thanks to the rally of speculative tickers. The benchmark VN-Index climbed 1.91 points or 0.49 per cent to 388.62 points.

More than half the southern bourse ended higher, namely 157 stocks were up and 58 stocks were down. Some 94 stocks kept unchanged.

Real-estate stocks Ocean Group (OGC), Licogi 16 (LCG) hit the ceiling while Hoang Anh Gia Lai (HAG) and Duc Long Gia Lai Group (DLG) jumping nearly 3 per cent each.

Kinh Bac City Development Share Holding Corp. (KBC), Tan Tao Investment Industry Corp. (ITA), Vietnam Electricity Construction (VNE), Sao Mai Construction Corp. (ASM) also advanced.

Mineral stocks Binh Thuan Mineral Industry (KSA), Bac Giang Exploitable Mineral (BGM), Duong Hieu Trading and Mining (DHM) hit the ceiling. Nari Hamico Minerals (KSS) and Tay Bac Minerals Investment (KTB) strongly rose.

Large-cap stocks reduced its rising momentum. Vietcombank (VCB) slightly declined and Vietinbank (CTG) ending flat after soaring in two previous sessions. Sacombank (STB) also declined, Military Bank (MBB) and Eximbank (EIB) ending up.

Some 41.9 million shares worth VND527.4 billion ($1.6 million) were traded on HoSE.