August 14: Vietnam Stocks Rise, MBB, VNM Lead

Vietnamese shares continued to close up today with support from heavy trading with rising price in MBB and ceiling performance of VNM.

The benchmark VN Index added 3.3 points or 0.77 percent to 429.47. Volume rose 69.4 percent to 50.53 million shares worth of VND1,003 billion. Put through trading contribute 5.9 million shares worth of VND303.39 billion.

We saw 2 million CTG shares changed hands in the put through deal at VND20,500 each versus the market close of VND21,100.

The market breadth turned positive on the primary bourse where 148 stocks advanced, 85 declined, 76 closed unchanged.

The VN30 rose 4.37 points or 0.86 percent, to 513.36. Amongst its 30 members, 19 gained, 6 lost and 5 unchanged.

Market opened in the red with 0.7 million shares changed hands, on the caution of yesterday’s fuel price hike.

Then, all the eyes turned to MBB performance as buyers suddenly became aggressive seconds after the market open, scooping up MBB shares regardless of prices. The thing to note here was that both the bulls and the bears seemed to know the battle to occur today. Mountain of offers with 14.8 million shares at the ceiling prices were right there waiting to be filled. In just 30 minutes after the open, 17 million MBB shares were filled, market players were stunned, other shares’ trading looked frozen as market players focused on MBB. Buyers and sellers prepared a trade of over 23 million shares today, and today will certainly marked a history for MBB share trade.

However, trading of MBB slowed down in late morning trading and in the afternoon session, and share prices pared the gain, leaving the ceiling level despite the fact that the bears had higher hand on the table today.

The hero of the market in late morning and afternoon session turned to VNM whose share prices hit the ceiling after recent firm rally. VNM closed limiting up at VND111,000 each on 305, 460 shares changed hands.

Other blue chips BVH, CSM, DHG, DPM, EIB, GMD, GAS, HPG, NTL, PVF, SSI, VCB were also gainers.

Also interestingly, SBS, despite a case of stock price manipulation occurred in the company was officially prosecuted last Friday, demand for the share was high and share prices hit the ceiling level with weak offer.

On the Hanoi Stock Exchange, the HNX bucked trend, rose 0.36 point or 0.51 percent to 70.32. Trading volume rose 6.5 percent to 33.4 million shares worth VND297.3 billion.

The market breadth was positive where 115 rallied, 78 declined, 79 closed unmoved, the rest untraded.

HNX30 rose 0.59 point or 0.44 percent to 134.17.

Hanoi based lender Habubank (HBB) was the most active on the measure with 5.3 million shares changed hands, closing down 1.9 percent to end at VND5,100.

Sai Gon Thuong Tin Real Estate JSC (SCR) came second in volume on a trade of 2.3 million units, falling 1.05 percent to end at VND9,400 per share.

VNDIRECT Securities Corporation (VND)ranked third with 2.2 million shares traded, closing up 0.9 percent at VND11,200.

http://stoxplus.com/News/87844/1/179/august-14-vietnam-stocks-rise-mbb-vnm-lead.stox

 

Category: Stocks