June 5: Vietnam Stocks Close Up as Investors Hunt Bargain

07-Jun-2012 Intellasia | StoxPlus | 7:01 AM Print This Post

Vietnamese stocks rose today as investors hunted bargain after recent losses, volume soared thanks to big put-through deals.

The benchmark VN Index added 4.37 points or 1.04 percent to 421.02. Volume fell 29 percent to 101.2 million shares worth of VND2.07 trillion, however, the cash market volume was still at low level.

Put-through trading contributed 57.1 million shares worth VND1.43 trillion. Of note, we saw super-large volume deals in the put through today including 51.3 million STB shares changed hands at VND25,000 each, 1 million HSG shares changed hands in the put-through deal at the price of VND18,600 each and 1 million CTI shares changed hands at the ceiling price of VND12,900 each.

The market breadth turned broadly positive on the primary bourse where 187 stocks advanced, 69 tumbled, 52 closed unchanged.

The VN30 Index rose 5.13 points, or 1.04 percent, to 498.02. Amongst its 30 members, 21 stock rallied, 2 lost and 7 unchanged.

The market opened in the red with 2.6 million shares changed hands, caution remained high. The trading pace was slow, however, bottom fishing efforts were more aggressive today, sending the index into the positive territory soon after the open, however, some sellers were also convincing, and market was in and out of the negative ground several times before close the morning session marginally higher.

Market resumed the afternoon session with stronger demand and share prices went up steadily and market closed at the high of the day.

The market recovery was seen first in broker shares, SSI, HCM, SBS shares were seen in the green early. Later, high beta shares led the market with gain.

Tan Tao Investment – Industry Corporation (ITA), the most active stock on a trade of 2.3 million shares, climbed 1.41 percent to end at VND7,200.

Fourth largest listed lender Sacombank (STB), coming second in liquidity with 1.9 million shares changed hands, edged up 0.8 percent to settle at VND25,100.

Largest listed stock broker Saigon Securities Inc (SSI) leaped 2.93 percent to finish at VND21,100 on a trade of 1.7 million shares – the third most active.

On the Hanoi Stock Exchange, the HNX climbed up 1.07 points or 1.48 percent to 73.58. Trading volume fell 15.3 percent to 37.5 million shares worth VND369.6 billion.

The market breadth was positive where 203 rallied, 46 declined, 36 closed unmoved.

VNDirect Securities (VND), the most active on the measure with 3 million shares changed hands, jumped 6.42 percent to end at VND11,600.

Hanoi-based lender Habubank (HBB), coming second in liquidity on a trade of 2.95 million units, surged 4.1 percent to settle at VND5,100 per share.

Sai Gon Thuong Tin Real Estate Joint Stock Company (SCR) leaped 5.1 percent to finish at VND14,500 per share on a trade of 2.9 million shares – the third most active.


Category: Stocks

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