Twin pillars crumble on southern bourse

May 05, 2011 | 16:34

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The two big players Bao Viet Holding (BVH) and Masan Group (MSN) hit the floor dragging down the Ho Chi Minh bourse on Thursday.

MSN hit the floor after hitting the ceiling for eight straight sessions, while BVH rose for four consecutive sessions previously.

The Ho Chi Minh Stock Exchange’s (HoSE) benchmark VN-Index lost up to 7.29 points, or 1.5 per cent, to close at 479.29 points. The HNX-Index fell in line with the HoSE’s fall, down 1.09 points or 1.31 per cent to 82.1 points.

Liquidity remained low on the southern bourse. Some 22 million shares worth VND534.27 billion ($25.8 million) were traded today, of which put-though volume making up VND210 billion ($10.14 million).

Investors boosted selling out shares, pushing 136 stocks down on the southern bourse. Just 70 stocks were up and 83 unchanged.

A mass of blue-chips fell, led by Vinamilk (VNM) shedding VND1,000, Saigon Securities Inc. (SSI) and Hoang Anh Gia Lai (HAG) off VND500.

Vietcombank (VCB) eased back, PetroVietnam Finance (PVF) ended flat while Eximbank (EIB) gained.

Trading volumes of SSI – the most active stock on the main bourse HoSE – reduced to one million shares today. The other major stocks saw just some hundreds of thousand units changing hands.

Foreigners also reduced their buying volumes to 2.31 shares, focused on Tan Tao Investment Industry Corp. (ITA), Hoang Anh Gia Lai (HAG), Hoa Phat Group (HPG) and some other blue-chips.

Speculators continued driving several mid-cap and penny stocks.

The Hanoi Stock Exchange almost sunk into the red with 223 stocks fell down, while just 54 advanced and 39 unchanged. Liquidity had not been increased, hitting 22.9 million shares worth VND288 billion ($13.9 million).

By Hai Linh

vir.com.vn

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