Two steps forward, one step back

February 24, 2012 | 15:59

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Both bourses reversed their upward trend Friday, with the VN-Index ending off at the close.

The benchmark of the Ho Chi Minh Stock Exchange (HoSE) lost 0.46 points 0.11 per cent to close at 423.43 points.

Eximbank (EIB), Vietcombank (VCB), Vietinbank (CTG), Saigon Securities Inc. (SSI) and Bao Viet Holdings (BVH) all fell. Ocean Group (OGC), Vincom Corp. (VIC), Cotec Construction (CTD) and Kinhbac City Development Share Holding Corpa (KBC) even saw bigger loses. Hoang Anh Gia Lai (HAG) fell back to its opening price.

While several major stocks declined dragging the market, cash flows still rallied in speculative stocks.

Low-price stocks Sacombank Securities (SBS), Investment and Trading of Real Estate (ITC), Nari Hamico Minerals (KSS), Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC) all jumped with 1-2 million shares matched each.

Advancers still outran decliners 156 to 85 on the bourse. Some 67 stocks ended flat.

Also on the Hanoi Stock Exchange (HNX) speculative stocks still rallied. Hanoi Investment General Corp. (SHN) jumped with up to 2.6 million shares matched, while major stocks like Kim Long Securities (KLS) easing back and VNDirect Securities (VND) coming back to the opening price.

A mass of low-price stocks like Dai Chau (DCS), PetroVietnam Power Land (PVL), Saigon-Hanoi Securities (SHS), Tasco (HUT), SongDa Infrastructure Construction (SHD) and Saigon Commercial Real Estate (SCR) strongly rose on the northern bourse, with more than one million shares matched each.

The HNX-Index added just 0.29 points or 0.43 per cent to close at 67.07 points, after increasing nearly 5 points during the session. Some 200 stocks ended higher, overwhelming 82 off. Some 113 stocks unchanged.

Banking shares continued stirring the market amidst increasingly heating information about banks’ mergers and acquisitions. Habubank (HBB) had more than 14 million shares matched today, even higher than the surprising volumes in previous sessions. The stocks sharply jumped 6.12 per cent.

Meanwhile, Military Bank (MBB) strongly outperformed the HoSE with 7.6 million shares matched, among them 2.7 million units were purchased by foreigners.

Liquidity still accelerated. Total trading value hit VND1.12 trillion ($54.1 million) on the HoSE, with volume reaching 78.6 million shares. Some 9.9 million shares worth VND160.7 billion ($7.8 million) were negotiated.

HNX’s total value jumped to 86.2 million shares worth VND736.8 billion ($35.6 million).