Nov 23: Vietnam Stocks Extend Gain, Property Shares Rebound

The benchmark VN Index added 6.81 points, or 1.78% to end at 388.57. Volume continued to rise 2.6% to 33.1 million shares worth VND518.9 billion including 11.9 million shares worth VND209.2 billion changed hands in the put-through deals.

Put-through deals continued to be very active. We saw 7.1 million STB shares changed hands today of which foreigners were net sellers. Another 1 million EIB shares were also traded.

Despite market rally today, Hanoi traders said they stayed on the sidelines and were skeptical amid the bad news in the securities industry that Trang An Securities failed to clear settlements with Vietnam Securities Depository. Wall Street Securities was sued for VND100 billion overdue debts.

VN Index opened in the green with 1.2 million shares traded. Market gathered enough steam to stay in the positive ground for the whole trading session despite lingering selling pressure. VN Index closed at the high of the day as heavy weighs hit ceiling.

Investors took advantage of the rally to sell into STB, MBB who led the market rally yesterday, said a trader in Hanoi, who said 5% gain now is really a bonus and worth taking.

Market breadth was positive, among 306 listed firms on HOSE, gainers outweighed losers by 153-57 and 68 stocks unchanged and the rest untraded. As many as 38 stocks hit ceiling while 21 issues fell to the floor, 5% each side.

Among top 10 market caps, 8 rose (MSN, BVH, VCB, VPL,EIB, VIC, HAG) , 1 fell (STB) and 1 unchanged (VNM).

New comer CNG closed down 1% to VND28,700 with 343,230 shares changed hands today.

Bank shares closed mixed, MBB  and STB fell today after leading the market rally in the previous trading day. However, CTG closed at the ceiling price with 333,130 shares traded of which foreigners bought 224,220 shares or 67.3% of the total volume.  EIB, VCB were gainers.

Property shares rebounded, HAG, NTL, ITA, KBC, DIC, ITC, DXG, DIG were all gainers, but SJS bucked trend to hit floor price today.

Top active stocks shares were weak. Saigon Thuong Tin Commercial Joint Stock Bank  or Sacombank (STB) led the market in volume with 1.2 millions shares traded, closing down 2.6% to VND15, 100.

Post and Telecommunication Investment and Construction JSC. (PTC) was second most active stock with 1.1 million shares trade, closing down 1.4% to VND7,100.

Hoang Quan Consulting – Trading – Service Real Estate Corporation (HQC) ranked third with 0.85 million shares traded, closing flat at VND6,300.

Saigon Securities Inc. (SSI) came forth with 0.8 million shares traded, closing up 0.6% to VND16,500.

Refrigeration Electrical Engineering Corporation (REE) was in the fifth place with 0.8 million shares traded, closing up 1.8% to VND11,400.

On the Hanoi Stock Exchange, the HNX closed up 0.36 point or 0.58% to 62.1. Trading volume rose 3.7% to 24 million shares traded for VND228.5 billion of which 1.3 million shares worth VND17.9 billion were changed hands in put-through deals.

Market breadth was negative with 164 gainers, 67 losers and 55 flat issues and 107 untraded. Among top 10 market caps, 6 gained and 4 unchanged.

High liquid and speculative shares KLS, VND, PVX, VCG were all gainers.

Kim Long Securities JSC (KLS) was the most active stock with 3.1 million shares changed hands, closing up 3.1% to VND10,000.

VNDIRECT Securities Corporation (VND) came second with 3 million shares traded, closing up 4.2% to VND10,000 on average.

PetroVietnam Power Land Joint Stock Company (PVX) ranked third in the list with 3 million shares traded, closing up 1.1% to VND9,100 on average.