July 12: Vietnam Shares Gain Second Day on Bottom Fishing Efforts
Vietnamese shares extended gain today as bargain hunters picked up beaten down shares after recent sharp fall, trading volume increased.
The benchmark VN Index added 1.44 points or 0.35 percent to 408.72. Volume rose 91.4 percent to 43.6 million shares worth of VND661 billion. Put through trading contributed 19.4 million shares worth of VND360.8 billion.
We saw 15.9 million EIB shares changed hands in the put-through deals at the floor prices of VND17,600 each.
The market breadth was positive on the primary bourse where 162 stocks advanced, 84 declined, 61 closed unchanged.
The VN30 added 1.55 points or 0.32 percent, to 483.12. Amongst its 30 members, 18 gained, 3 lost and 9 unchanged.
The market opened in the red with 0.9 million shares changed hands. The trading pace was very slow and boring. Some bottom fishing efforts were seen pushing the market to the positive ground but selling pressure was still high in the morning session. The market resumed the afternoon session with more aggressive buying, trading pace was faster and market stayed firmly in the positive ground. Blue chips underperformance at the ATC pared the market gain but the index was still well off the ground.
Tan Tao Investment – Industry Corporation (ITA) was the most active stock on the bourse today with 2.1 million shares changed hands, closing up 3 percent to VND6,800.
Vietnam Electricity Construction Joint Stock Corporation (VNE) came second in liquidity with 1.4 million shares traded, closing up 1.5 percent at the price of VND7,000.
Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank (STB) ranked third with 1.2 million shares changed hands, closing up 0.5 percent to VND22,200 each.
On the Hanoi Stock Exchange, the HNX gained 0.73 point or 1.06 percent to 69.32. Trading volume rose 66.8 percent to 34.5 million shares worth VND294.7 billion.
The market breadth was positive where 180 rallied, 51 declined, 50 closed unmoved and the rest unchanged.
HNX30 gained 2.65 points or 2.06 percent to 130.92.
VNDIRECT Securities Corporation (VND) was the most active on the measure with 3.6 million shares changed hands, closing up 4.2 percent to VND9,800.
PetroVietnam Construction Joint Stock Corporation (PVX) come second in volume on a trade of 3.3 million units, closing up 3.3 percent to settle at VND9,300 per share.
Kim Long Securities JSC (KLS) was in the third place with 2.8 million shares traded, closing up 1 percent to VND9,400.
Category: Stocks
