Week starts with a bang

Low-price stocks Sacom Development and Investment Corp. (SAM), PetroVietnam-Idico Long Son Industrial Park Investment (PXL), Sacombank Securities (SBS), PetroVietnam Transportation Corp. (PVT), Petro Capital Infrastructure Investment (PTL), Urban Development and Construction Corp. (UDC) massively hit the ceiling on soaring bidding orders. Those stocks all had nearly one million to some million shares matched each on Ho Chi Minh Stock Exchange (HoSE).

Other penny stocks like Huu Lien Asia Corp. (HLA), Binh Thuan Hamico Mineral (KSA), Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC), Vietnam Tanker (VTO), Transport Engineering Construction & Business Investment JSC 584 (NTB) also strongly rallied with some hundreds of units matched.

Hanoi Stock Exchange (HNX) saw Hanoi Investment General Corp. (SHN), Saigon-Hanoi Securities (SHS), PetroVietnam Power Land (PVT), PetroVietnam-Nghe An Construction (PVA), Thai Hoa Viet Nam Group (THV) sharply rising with one to some million shares matched each.

Besides, speculators strongly cashed in a mass of penny stocks like Saigon Commercial Real Estate (SCR), PVI Investment and Development (PV2), SongDa Infrastructure Construction (SDH), Vinashin Petroleum Investment and Transport (VSP), PetroVietnam Finance Land (PFL) and Bimson Cement (BCC).

Even penny stocks of struggling companies like Haiphong Securities (HPC), Wall Street Securities (WSS), Orient Securities Corp. (ORS) were strongly purchased.

Trading volume continued strong at 65.4 million shares worth VND931 billion ($45 million) on the HoSE, even stronger on the HNX at 75 million shares worth VND682 billion ($32.9 million).

At the close, the VN-Index advanced 4.98 points or 1.18 per cent to end at 428.41 points. Meanwhile, the HNX-Index significantly rose 2.09 points or 3.12 per cent to 69.16 points.

Banking shares continued stirring the local market. Military Bank (MBB) outperformed on the HoSE with up to 5 million shares matched, while Habubank (HBB) had huge matching volume of more than 10 million shares today.

Eximbank (EIB), Sacombank (STB) and Saigon-Hanoi Bank (SHB) saw millions of units matched each.

Major stocks reduced their gains. Securities company shares were strongly sold today as investors massively locked in profits. Bao Viet Holdings (BVH) and Vincom Corp. (VIC) fell.