Dec 28: Vietnam Stocks Snap Losing Streak on Short Sell Cover

The benchmark VN Index gained 2.86 points, or 0.82% to end at 350.66, just enough to stay above 350 threshold. Volume edged up to 57.72 million shares worth VND838.12 billion  compared with 57.45 million shares worth VND808.7 billion yesterday.

Today, 31.1 million shares worth VND544.57 billion were changed hands in the put-through deals, once more it marked put-through trading more active than the cash market in both liquidity and volume.

We saw 10 million OGC shares changed hands at VND7,500 each;  1.3 million RAL shares changed hands  for VND26.13 billion; 3.4 million REE shares changed hands for VND37.52 billion, 1.62 million SBS shares changed hands for VND5,17 billion; 1 million SJS shares changed hands for VND21.05 billion; 8.5 million STB shares changed hands for VND135.94 billion and 2.15 million VIC shares changed hands for VND208.16 billion.

VN Index opened in the red with 1.4 million shares traded, selling pressure eased.  Bottom fishing and short sell cover buoyed the market and VN Index soon entered the positive ground after the open. More ceiling actions were seen and market sentiment improved. VN Index closed near the high, buying interest was average.

 Market breadth was broadly positive. Among 307 listed firms on HOSE, gainers outweighed losers by 182-60 and 46 stocks unchanged and the rest untraded. As many as 87 stocks hit ceiling while 41 issues fell to the floor, 5% each side.

Among top 10 market caps, 7 rose (VNM, CTG, VIC, HAG, VCB, DPM and MSN), 2 fell (BVH, and STB), 1 unchanged (EIB).  

Of note financial stocks (banks, securities, property) led the market gain: CTG, VCB, SSI , NTL, HAG, SJS, SBS were all ceiling performers.

Ocean Group JSC. (OGC) became the most active stock on the bourse today with 1.8 million shares traded, closing up 4.1% to VND7,600.

Na Ri Hamico Mineral JSC. (KSS) ranked second with 1.8 million shares traded, closing flat at VND7,000.

Military Commercial Joint Stock Bank (MBB) was in the third place with 1.7 million shares traded, closing up 1% to VND10,600.

Saigon Thuong Tin Commercial Joint Stock Bank  or Sacombank (STB) ranked forth with 1.4 million shares traded, closing down 4.4% to VND15,100.

Vietnam Electricity Construction Joint Stock Corporation (VNE) was in the fifth p1ace with 1.3 million shares traded, closing up 3.7% to VND2,800.

On the Hanoi Stock Exchange, the HNX closed up 1.45 point or 2.56% to 58.15. Trading volume fell 16.1% to 30.54 million shares traded for VND249 billion of which 4 million shares worth VND51.67 billion were changed hands in put-through deals.

Market breadth was positive with 160 gainers, 71 losers and 50 flat issues and 112 untraded. Among top 10 market caps, 9 gained, and 1 lost.

Hot issues KLS, PVX, VCG were gainers, VND unchanged while SHN closed down.

VNDIRECT Securities Corporation (VND) was the most active stock with 2.7 million shares changed hands, closing unchanged at VND6,900 on average.

Kim Long Securities JSC (KLS) ranked second in the list with 2.4 million shares traded, closing up 5.4% to VND7,800 on average .

PetroVietnam Construction Joint Stock Corporation (PVX) came third with 2.2 million shares traded, closing up 1.5% to VND6,900 on average.