Market trampolines on liquidity

Major speculative stocks drove the market up Tuesday.

Major real estate stocks boosted the Ho Chi Minh Stock Exchange (HoSE), with Ocean Group (OGC), Hoang Anh Gia Lai (HAG), Ninh Van Bay Real Estate (NVT), Investment and Trading of Real Estate (ITC), Kinhbac City Development Share Holding Corp. (KBC) suddenly hitting the ceiling.

Becamex Infrastructure Development (IJC) and Tan Tao Investment Industry Corp. (ITA) sharply jumped with more than one million shares traded each.

Mineral stocks rallied, among them Binh Thuan Hamico Mineral (KSA), Bac Giang Exploitable Mineral (BGM), Nari Hamico Minerals (KSS) active the most.

Banking stocks also bounded back after a strong fall yesterday. Vietcombank (VCB), Vietinbank (CTG), Eximbank (EIB) and Military Bank (MBB) all strongly gained with large volumes matched. Only Sacombank (STB) hit the floor.

Hanoi Stock Exchange (HNX) was strongly raised up by petroleum stocks and securities companies stocks. PetroVietnam Construction (PVX) outperformed the market with 3.4 million shares matched, advancing 3.8 per cent. PetroVietnam Power Land (PVL), PetroVietnam-Nghe An Construction (PVA) and PetroVietnam Northern Gas (PVG) massively soared.

Kim Long Securities (KLS), VNDirect Securities (VND), Bao Viet Securities (BVS) and Wall Street Securities (WSS) were strongly bought back by investors, massively rising.
Advancers strongly outran decliners on both bourses.

Up to 162 stocks ended higher on the HoSE, compared with 62 off and 82 unchanged. The benchmark VN-Index gained 4.72 points or 1.19 per cent to 400.26 points.

Advancers were of 143 stocks on the HNX, doubling 74 declining. HNX-Index added 0.5 points or 0.81 per cent to close at 61.54 points.

Despite strong market uncertainties at the moment, liquidity remained quite strong. The figure hit 36.5 million shares worth VND637 billion ($30.8 million) on HoSE, with more than VND256 billion ($12.4 million) worth of shares negotiated.

Meanwhile, some 33.6 million shares worth VND243.8 billion ($11.8 million) changed hands on the HNX.

Hai Linh (