Vinamilk comes to bourse’s rescue

illustration photo

VNM added VND5,000 to VND114,000 in the end of the session, followed by the blue-chip Masan Group (MSN), which jumped VND4,000 to VND127,000.

The VN-Index of the Ho Chi Minh Stock Exchange (HoSE) bounced back at the session’s end as well, gaining 1.86 points or 0.39 per cent to 483.15 points.

Whereas, blue-chips ended mixed on the southern bourse, of which Hoang Anh Gia Lai (HAG), Vietinbank (CTG) and Quoc Cuong Gia Lai (QCG) slightly advanced, while Bao Viet Holding (BVH), Saigon Securities Inc. (SSI), PetroVietnam Drilling (PVD) and PetroVietnam Finance (PVF) were off.

Decliners extended to 138 stocks today, compared with as low as 83 advancers.

Match’s volume remained weak at 15.6 million shares worth some VND330 billion ($15.94 million), although put-through volume jumped boosting total trading volume to 21.65 million shares, worth VND536 billion ($25.89 million).

Sacombank (STB) and Thong Nhat Rubber (TNC) outperformed the market today with more than one million shares traded each. The other major stocks continued seeing just very modest volume changing hands.

Of the same trend, liquidity turned back to sharply fell on the Hanoi Stock Exchange (HNX). Just 18.6 million shares were traded, down from yesterday’s 25 million. Value stood at VND243.56 billion ($11.77 million).

Some 79 stocks were up compared with 182 stocks declining and 122 unchanged. The benchmark HNX-Index lost 0.23 points or 0.28 per cent to 82.71 points.

Except Saigon-Hanoi Bank (SHB) and Asia Commercial bank (ACB) slightly gaining, almost all the other major stocks strongly dropped.

“Hopes of investors [of a HNX’s rebound] have been dashed as the bourse sunk back into the red and liquidity turned skidded,” said Vietcombank Securities.

According to the securities company, the stock market is increasingly drying out thanks to the central bank tightening commercial banks’ credit and reining in the flows into the market.