August 15: Vietnam Stocks Extend Gain, Blue Chips Support
Vietnamese shares continued to close up today with support from blue chips, liquidity, however, fell.
The benchmark VN Index added 1.3 points or 0.3 percent to 430.77. Volume fell 21.5 percent to 39.6 million shares worth of VND968.6 billion. Put through trading contribute 8 million shares worth of VND470.5 billion.
We saw 3.69 million VNM shares changed hands in the put through deal at VND112,000 each versus the market close of VND115,000 and 2 million RDP shares changed hands at the floor price o VND9,100.
The market breadth turned negative on the primary bourse where 85 stocks advanced, 143 declined, 81 closed unchanged.
The VN30 rose 2.69 points or 0.52 percent, to 516.05. Amongst its 30 members, 9 gained, 13 lost and 8 unchanged.
Market opened in the green with 1 million shares changed hands, the trading was a bit boring versus previous trading session.
Market focus today was firstly on PVF which replaced MBB to be the guiding star with active trading and soaring share prices. However, PVF also had to succumbed to selling pressure and leaving the ceiling price at the close.
Market talks again mentioned the deal between PetroVietnam Finance Joint Stock Corporation (PVFC) with a weak bank (rumoured to be Western Bank). Nguyen Thien Bao, CEO of PVFC said the company planned to convert into a commercial bank, likely through a merger with a commercial bank. However, the deal got obstacle that PetrolVietnam (PVN) will have to sell stakes in one of the two banks, either PVFC or Oceanbank or the two banks have to merger.
VMN again pleased its holder with continuous price rising, closing at VND115,000 a share. But with heavy put-through deals today, traders questioned how far the share prices could go.
Other blue chips CTG, DHG, DPM, EIB, GAS, PVD, VSH were also gainers.
SBS extended its ceiling performance today with rather strong demand after its chair said the company runs normally and is in good position to pay all debts.
On the Hanoi Stock Exchange, the HNX bucked trend, falling 0.17 point or 0.24 percent to 70.15. Trading volume eased 0.6 percent to 33.2 million shares worth VND295.1 billion.
The market breadth was negative where 78 rallied, 120 declined, 84 closed unmoved, the rest untraded.
HNX30 lost 0.23 point or 0.17 percent to 133.93.
Hanoi based lender Habubank (HBB) was the most active on the measure with 6.6 million shares changed hands, closing up 2 percent to end at VND5,200 after the bourse said SHB’s share price will not be adjusted on August 17 but instead the share price is allowed to trade at 25 percent trading band on that day.
Saigon – Hanoi Commercial Joint Stock Bank (SHB) came second in volume on a trade of 2.3 million units, closing up 1.1 percent to end at VND9,300 per share.
PetroVietnam Construction Joint Stock Corporation (PVX) ranked third with 2 million shares traded, closing down 1.2 percent at VND8,400.
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Category: Stocks
