HoSE in correction spasm

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Báo Đầu Tư English - 31 month(s) ago 1 readings

HoSE in correction spasm

Ho Chi Minh Stock Exchange (HoSE) slightly shed Thursday in a correction session, but cash still strongly flowed into speculative stocks.

HoSE’s VN-Index slipped 0.1 points or 0.02 per cent to 445.67 points.

Investors locked in profits in major stocks. Financial shares largely declined or reduced their gains on the HoSE. Military Bank (MBB) lost 2.47 per cent, Saigon Securities Inc. (SSI) 1.96 per cent, Eximbank (EIB) 1.67 per cent while Sacombank (STB) off 0.84 per cent.

Blue-chips Hoa Phat Group (HPG), FPT Corp. (FPT), Masan Group (MSN), PetroVietnam Drilling and Well Services (PVD) and PetroVietnam Fertilisers (DPM) also massively dropped.

Bao Viet Holdings (BVH), Vincom Corp. (VIC) and Vinamilk (VNM) all ended flat.

In contrast, bidding for shares strongly increased in speculative stocks. Mineral stocks Nari Hamico Minerals (KSS), Bac Giang Exploitable Mineral (BGM), Tay Bac Minerals Investment (KTB) sharply jumped with large matching volumes.

Real estate stocks Ocean Group (OGC), Licogi 16 (LCG), Investment and Trading of Real Estate (ITC), PetroVietnam-Idico Long Son Industrial Park Investment (PXL), International Development and Investment Corp (IDI), Transport Engineering Construction & Business Investment JSC 584 (NTB) sharply jumped and were among top active stocks.

Overall, advancers still outran decliners 136 to 103 on the southern bourse. Some 70 stocks were unchanged.

Small-cap and mid-cap speculative stocks also strongly rallied on the Hanoi Stock Exchange (HNX), helping the northern bourse’s HNX-Index adding 0.45 points and 0.59 per cent to close at 76.11 points.

Habubank (HBB) hit the ceiling and outperformed the market with 18.7 million shares matched. Real estate stocks Vietnam Construction and Import-Export (VCG) and Sacomreal (SCR) sharply jumped.

Mid-cap and small-cap securities companies stocks kept their rallying trend, among them Wall Street Securities (WSS), Saigon-Hanoi Securities (SHS), Hai Phong Securities (HPC) and PetroVietnam Securities Inc. (PSI).

Advancers also outran decliners on HNX, with 153 stocks up and 132 off. Some 111 stocks were unchanged.

Liquidity kept high, particularly on HNX. The northern bourse saw 104.8 million shares worth VND1.02 trillion ($49.1 million) changed hands. Liquidity reached 81.6 million shares worth VND1.16 trillion ($55.8 million) on HoSE.

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