Trading a mixed bag

Trading values shed a fourth to VND388.7 billion ($18.8 million) on the Ho Chi Minh Stock Exchange (HoSE), while falling to VND299 billion ($14.4 million) on the Hanoi Stock Exchange (HNX). Totaling value on the two bourse was of below VND700 billion ($33.8 million), far lower than the peak of over VND1 trillion ($48.3 million) last week.

Trading volumes reached 22.7 million shares and 28.6 million shares, respectively.

“With current gloomy macroeconomics and the absence of the government’s acts in supporting the market, investors are proving hesitant to cash in,” said Hanoi Securities.

Demand for shares mainly focused on major stocks, while keeping strictly low in mid-cap and small-cap ones. Selling pressure meanwhile remains big.

The VN-Index, however, still sharply rose 9.27 points or 2.25 per cent to 421.37 points, mainly thanks to the gains of blue-chips.

All the three pillars Bao Viet Holdings (BVH), Masan Group (MSN) and Vincom Corp. (VIC) hit the ceiling. BVH was strongly buoyed by foreign investors.

Blue-chips Vinamilk (VNM) and Song Da Urban & Industrial Zone Investment and Development (SJS) also hit the ceiling.

Finance shares Vietinbank (CTG), Vietcombank (VCB) and PetroVietnam Finance (PVF) slightly added after falling at the session’s open. Hoang Anh Gia Lai (HAG) and Refrigeration Electrical Engineering Corp. (REE) both advanced.

Real estate shares massively dropped, led by Sao Mai Construction Corp. (ASM), Tu Liem Urban Development JSC (NTL), Construction JSC (SC5) and Kinhbac City Development Corp. (KBC).

Saigon Securities Inc. (SSI) outperformed the market today with nearly two million shares traded, with the price dropping 2.4 per cent. Decliners outran the advancers 117 to 89 on the southern bourse.

The HNX-Index slightly lost 0.13 points to 69.48 points on the northern bourse, where more than half the market declined.

Investors largely bid for securities company shares at floor prices, among them VnDirect Securities (VND) and Kim Long Securities (KLS) were active the most with 2.1 million shares and 1.3 million shares changing hands respectively.