Week ending liquidity drain

August 03, 2012 | 15:00

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Two bourses ended mixed Friday with continuing dried out liquidity.

Ho Chi Minh Stock Exchange’s (HoSE) VN-Index ended up on gains of a few blue-chips. The benchmark added 2.11 points, or 0.51 per cent to 418.21 points.

Key pillar stock Vinamilk (VNM) hit the ceiling again to VND97,500 today with more than 100,000 units matched. Several stocks of sector leaders like Kinh Do Corp. (KDC), PetroVietnam Fertilisers (DPM), FPT Corp. (FPT), Hoa Phat Group (HPG), PetroVietNam Drilling and Well Services (PVD) ended up.

Some high price stocks of producing sectors jumped, among them Binh Minh Plastics (BMP) hit the ceiling and Vegetable Oil Packing (VKP) jumped 4.38 per cent. Some speculative stocks in rubber and mineral stocks continued rising, including Binh Thuan Mineral Industry (KSA), Southern Rubber Industry (CSM).

Ocean Group (OGC) continued rallying with 1.2 million shares matched, up 2.34 per cent. Duc Long Gia Lai Group (DLG) hit the ceiling with more than one million shares matched.

Advancers and decliners ran even on the southern bourse. Banking stocks stayed unchanged today, while Military Bank (MBB) and Eximbank (EIB) slightly added.

The sluggish economic situation continued weighing on investors’ sentiment. The gasoline distributor giant Petrolimex increased its retail prices yesterday, sparking possibilities of other petroleum price hikes. The Ministry of Finance (MoF) confirmed that retail price should continue to increase if global prices trend up.

“We admit that another price increase should not be burdensome for 2012’s CPI, but it will further dampen the consumption weakness and growth outlook,” said Saigon Securities Inc.

Weak demand pushed liquidity to a very low level. Only 24.2 million shares worth VND384.4 billion ($18.6 million) changed hands on the HoSE.

Liquidity was just 27.4 million shares worth VND391.2 billion ($18.9 million) on Hanoi Stock Exchange (HNX).

The northern bourse’s benchmark HNX-Index shed 0.07 points or 0.1 per cent to 68.91 points. VNDirect Securities (VND) advanced 1.87 per cent, Kim Long Securities 1.04 per cent while Saigon-Hanoi Securities (SHS) jumping 4.69 per cent. PetroVietnam Southern Gas (PGS) added 1.98 per cent.

Decliners outran advancers 99 to 90. Some 205 stocks were unchanged, while as any as 128 stocks were untraded on the bourse.