Feb 22: Vietnam Stocks Soar on Strong Local Demand

The benchmark VN Index added 7.5 points, or 1.83% to end at 418.41. Volume eased 7.1% to 54.9 million shares worth VND739.57 billion, including 7.86 million shares worth of VND115.26 billion changed hands in the put-through deals.

We saw 2 million EIB shares, 1.93 million ITA shares and 2 million MBB shares changed hands today. Once more, put-through market was active.

VN Index opened in the red as caution remained after the correction yesterday, 4.77 million shares were traded as sellers were aggressive. However, buying energy was steady and the bulls gathered enough steam to convince the market. VN Index closed at the high of the day, some stocks saw their offer side blank.

VN30 added 8.7 points or 1.88% to 470.97 today. Volume fell by 23.1% to 19.6 million worth of VND359.3 billion.

The breadth turned positive. Among 306 listed firms on HOSE, gainers outweighed losers by 192-51 and 64 stocks unchanged.

Most active stocks still saw two bank names EIB and MBB and market leading broker share SSI.

Military Commercial Joint Stock Bank (MBB) was the most active stock today with 3.6 million shares traded, closing up 3.1% to VND13,300.

Vietnam Export Import Commercial Joint Stock Bank (EIB) ranked second with 2.5 million shares traded, closing up 2.4%  to VND16,800.

Saigon Securities Inc. (SSI)  was in the third place with 2.4 million shares traded, closing up 4.9% to VND17,200.

On the Hanoi Stock Exchange, the HNX closed up 1.81 point2 or 2.83% to 65.7. Trading volume fell 12.62% to 70.42 million shares traded for VND557.62 billion of which 2.08  million shares worth VND46.51 billion were changed hands in put-through deals.

Market breadth turned  positive with 204 gainers, 58 losers and 133 flat issues.

Hanoi Building Commercial Joint Stock Bank (HBB) was the most active position with 12.7 million shares changed hands, closing flat at VND4,800. This is the third consecutive session that HBB was in the top list of most active stocks, and roughly 33 million shares were traded in just 3 days. HBB has total 405 million listed shares. The lender posted a consolidated net profit of VND40.8 billion in Q4/2011, extending its net profit in 2011 to VND262 billion, down 45% on year. The lender announced March 9 as record date for 2012 AGM.

PetroVietnam Construction Joint Stock Corporation (PVX) ranked second in the list with 8.9 million shares traded, closing up 6.6% to VND9,700. 

Kim Long Securities JSC (KLS)  came third with 5.2 million shares traded, closing up 4.9% to VND10,800.