April 16: Vietnam Stocks Rise, Earnings Supports

The benchmark VN Index added 5.74 points or 1.24% to 468.26, off the high but still highest session close. Volume eased 26.5% to 89.7 million shares worth of VND1.4 trillion, however, it is still at high level.  Put-through trading contributed 7.8 million shares worth VND152.1 billion.

We saw 3.5 million DXG shares changed hand s at the price of VN10,500 each, versus the market close price of VND11,500 each.

VN30 was stronger than the broader market, posting a gain of 6.87 points or 1.29% to close at 539.17. Volume eased to 28.1 million shares changed hands for VND601.5 billion.

Market opened the morning session in the green with 3.7 million shares changed hands. Buying interest looked firm but selling pressure at high prices were also strong, caution rose at the early trade before the bull gathered enough steam to lead the market, and ended the morning session in the green.

The market resumed the afternoon session in a fast trading mode where buyers were more encouraged but the supply was also good. The efforts of both bulls and bears kept liquidity high.

The market breadth was positive on the primary bourse where 228 stocks advanced, 44 fell, 38 closed unchanged of which 109 limited up, 8 limited down.

Securities stocks soared SSI, HCM limited up and SSI broke its 52 week high today with support from the news that the mother company earned VND246 billion pretax profit in Q1/2012, meanwhile, SBS closed off the high with high supply at the close and still not pass 6.9 peak YTD.

Property shares were also strong, NTL, ITC, KBC, SJS were among ceiling gainers.

Banking stocks recovered more slowly in general, CTG, EIB, MBB were gainers STB fell  and VCB gained strongly.

Notable performance included SSI whose share prices ended at the ceiling with 3.5 million shares changed hands, being the second most active player on the bourse this morning.

The most active stock today was ITA with 3.8 million shares changed hands, SBS with 3.3 million shares changed hands, closing  1 line behind the ceiling level. Other active players included LCG with 4.4 million shares, closing up, SSI with 4.3 million shares, edging down and ITC with 4.2 million shares, closing flat.

On the Hanoi Stock Exchange, the HNX index broke 80 threshold after rising 1.99 points or 2.54% to 80.37. Trading volume fell 13%  to 91.3 million shares worth VND1 trillion, but still at high level.

The market breadth was positive on the northern exchange with 256 stocks up, 94 stocks down 46 closed unmoved of which 92 limited up, 13 limited down.

Hanoi-based lender Habubank (HBB) was the most active issue on the measure with 9.5 million shares changed hands, closing up at VND7,200.

VNDIRECT Securities Corporation (VND) ranked second in liquidity on a trade of 5.5 million units, limited up at VN13,800.

Kim Long Securities JSC (KLS) closed up to VND13,800 on a trade of 5.3 million shares, being the third most active player.