Stocks trampoline in the south

Saigon Securities Inc. (SSI) hit the ceiling after more than 2.6 million units matched.

Refrigeration Electrical Engineering Corporation (REE) and Investment and Trading of Real Estate (ITC) jumped with some 900,000 units traded each.

A mass of blue-chips hit the ceiling, among them Song Da Urban & Industrial Zone Investment and Development (SJS), PetroVietnam Fertiliser and Chemical Corporation (DPM) and Quoc Cuong Gia Lai (QCG).

Banking shares Vietcombank (VCB) and Vietinbank (CTG) both jumped. The pillars Masan Group (MSN) significantly gained while Vincom Corp. (VIC) hit the floor.

HoSE’s VN-Index added 3.72 points or 0.84 per cent to 445.17 points. Advancers more than doubled decliners while 66 ended flat on the southern bourse.

Trading volumes, however, strongly shed 30 per cent to 34.48 million shares, with values tumbling to VND572.9 billion ($27.7 million).

Liquidity significantly rose on the Hanoi Stock Exchange (HNX), with 58.3 million shares worth VND720 billion ($34.8 million) changing hands.

The benchmark HNX-Index gained 0.94 points or 1.21 per cent to 78.68 points, after reaching 80 points during the session.

Kim Long Securities (KLS) maintained high liquidity with more than 7.4 million shares changing hands. PetroVietnam Construction (PVX) followed with 4.8 million shares traded.

Cash flows remained focusing on a number of speculative stocks, including KLS, PVX, Sacomreal (SCR), VnDirect Securities (VND) and Bao Viet Securities (BVS). Several strongly fell on holders’ pressures to lock in profits.

Banking shares including Habubank (HBB), Asia Commercial Bank (ACB) and Saigon-Hanoi Bank (SHB) were almost unchanged.

At the close, 147 stocks advanced with 34 hitting the ceiling, 119 lost while 121 were unchanged.