Week ends on somber note

The benchmark VN-Index added 2.13 points, or 0.52 per cent, to 410.57 points.

The rise was despite nearly half the bourse falling. Up to 129 stocks on the southern bourse fell, compared with 83 advancing. Among the gainers driving the stocks up, Vinamilk (VNM) rose 3.7 per cent, Bao Viet Holdings (BVH) 1.55 per cent and Masan Group (MSN) up 0.81 per cent.

A few other major stocks climbed, among them PetroVietnam Drilling and Well Services (PVD), Quoc Cuong Gia Lai (QCG) and FPT Corp. (FPT).

Meanwhile, the remainders ended lower on the market’s weak sentiment. News of brokerage SME Securities (SME) failing to settle some of its accounts payable, accompanied with a gloomy global economy outlook, sent shudders through the market.

Major real estate stock Ocean Group (OGC) lost 2.54 per cent and Song Da Urban & Industrial Zone Investment and Development (SIS) 3.1 per cent.

Financial shares Saigon Securities Inc. (SSI), Military Bank (MBB), Sacombank (STB), Vietinbank (CTG) all slightly shed while Eximbank (EIB) ended flat.

Liquidity significantly reduced to 34 million shares worth VND659 billion ($31.8 million), with investors largely focusing on mid-cap and small-cap stocks.

Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC), OGC and Post and Telecommunications Investment and Construction (PTC) were the most active on the bourse with over one million shares traded each.

Meanwhile, Hanoi Stock Exchange’s (HNX) HNX-Index was off 0.46 points or 0.69 per cent to 65.97 points. Some 138 stocks declined on the northern bourse, compared with 80 gaining and 173 ending flat.

SME Securities hit the floor for the second session on liquidity concerns. Other securities company shares, however, saw just modest falls. Kim Long Securities (KLS) slipped 0.95 per cent and VNDirect (VND) 2.8 per cent. Wall Street Securities (WSS), Au Viet Securities (AVS) and Saigon-Hanoi Securities (SHS) were unchanged while Hoa Binh Securities (HBS) rose.

Also, some major stocks like PetroVietnam Construction (PVX), PetroVietnam Southern Gas (PGS) rose.

Total volume was 26.4 million shares worth VND271 billion ($13.1 million). Put-through volume was of 2.3 million shares worth VND27.8 billion ($1.3 million).