Stocks move up on advancing demand

November 06, 2012 | 16:00

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Demand for shares seemed to slightly advanced Tuesday boosting more stocks ending up.

More speculative stocks in mineral and real-estate sectors rallied back. Sao Mai Construction Corp. (ASM) and International Development and Investment Corp (IDI) both hit the ceiling, Hoang Quan Consulting – Trading – Service Real Estate Corp. (HQC) gained 2.44 per cent and Fecon Foundation Engineering and Underground Construction (FNC) jumped 4.43 per cent with some hundred thousands shares matched each.

Several mineral stocks turned back to green rhythm, among them Lao Cai Mineral Exploitation & Processing (LCM) and Duong Hieu Trading and Mining (DHM) both hit the ceiling and Bac Giang Exploitable Mineral (BGM) gained 2.7 per cent.

Some stocks with robust third-quarter results significantly gained. Vegetable Oil Packing (VKP) hit the ceiling again, Danang Rubber (DRC) and Southern Rubber Industry (CSM) ended slightly up.

However, large-cap stocks eased back after the sudden rise yesterday. Bao Viet Holdings (BVH) lost 2.22 per cent, FPT Corp. (FPT), Kinh Do Corp. (KDC), Phu Nhuan Jewelry (PNJ) significantly fell while banking stocks Vietinbank (CTG) and Vietcombank (VCB) off.

Some 95 stocks rose on Ho Chi Minh Stock Exchange (HoSE), compared with 113 declining and 101 ending flat. The benchmark VN-Index lost 0.32 points or 0.08 per cent today to end at 376.95 points.

While matching value remaining weak, put-through value helped liquidity improving. As high as 11.5 million Eximbank (EIB) shares worth VND170 billion ($8.2 million) were negotiated today. HoSE’s total liquidity reached 46.2 million shares VND635.3 billion ($30.7 million).

On Hanoi Stock Exchange (HNX), Navibank (NVB) suddenly outperformed the bourse with 6.1 million shares matched. The stock gained 1.47 per cent to VND6,900 per share. Saigon-Hanoi Bank (SHB) followed with 5.1 million units matched.

Among top active stocks, real-estate tickets Saigon Commercial Real Estate (SRC) hit the floor and FLC Group (FLC) dropped 5.08 per cent while Petro Vietnam Construction (PVX) sharply rising 5 per cent and PetroVietnam - Nghe An Construction (PVA) hitting the ceiling. Other high-liquid stocks kept almost unchanged.

Liquidity of the northern bourse stayed very low at 26.4 million shares worth VND155.2 billion ($7.5 million).