Oct 26: Vietnam stocks rise on bargain hunting, blue chip support

Vietnamese stocks rose as bargain hunters picked up stocks on attractive price level, strong blue chip performance supported the market.

The benchmark VN Index added 2.72 points, or 0.66% to end at 412.1. Volume rose 12.89% to 25.3 million shares worth VND566.4 billion including 6.8 million shares worth VND272.5 billion changed hands in the put-through deals.

VN Index opened in the green with nearly 0.6 million shares traded. Buying energy was steady and kept the market going forward through the trading session, especially ATC share prices were aggressively higher. VN Index closed at the high of the day, liquidity improved a bit.

Some stock prices have fallen to attractive level, triggering some buying interest from long-term investors. Blue chips such as BVH, MSN, VIC, CTG led the rally.

Heavy weighs BVH closed at the ceiling VND65,500; MSN rose 0.8% to VND125,000, VIC up 1.7% to VND92,000.

Of note, Vietnam JS Bank for Industry and Trade or Vietinbank (CTG) had strong performance today after it reported 49% rise in net profit to VND4.13 trillion ($201.4 million) in 9M/2011. Foreigners bought 172,570 CTG shares out of total 277,110 shares traded today or 62% of the total. CTG share price rose 3.9% to close at VND24,000.

Bank stocks performed pretty well today after solid earnings result released: CTG’s earning + 49% on year, EIB + 65% on year, STB +5% on year, VCB + 4% on year and ACB +15.3% on year.

Another note for today was a jumbo deal of 4,323,770 FPT shares changed hands at VND50,000 each.

Market breadth today was negative, among 303 listed firms on HOSE, losers outweighed gainers by 115-91 and 76 stocks unchanged and the rest untraded. As many as 30 stocks fell to the floor while 14 issues hit the ceiling, 5% each side.

Dong Nai Port JSC. (PDN) debut its all 8,231,998 shares today at VND29,000/share with a trading band of +/-20% on the first trading day. PDN closed up 3.4% to VND30,000 with 18,600 shares changed hands.

Among top 10 market caps, 6 rose (BVH, VIC, MSN, CTG, EIB, VCB) , 2 fell ( STB, HAG) and VPL unchanged.

Hoang Quan Consulting – Trading – Service Real Estate Corporation (HQC) was the most active stock with 1.6 million shares traded, closing down 2.9% to VND9,900.

Becamex Infrastructure Development JSC. (IJC) was in the second place with 1.2 million shares traded, closing up 2% to VND10,200.

Licogi 16 JSC. (LCG) ranked third with 0.9 million shares traded, closing up 2.5% to VND12,200.

Saigon Securities Inc. (SSI) stayed in the fourth place with 0.9 million shares traded, closing down 2.3% to VND17,000.

Pha Lai Thermal Power JSC. (PPC) was the last in the most active list with 0.8 million shares traded, closing flat at VND6,900.

On the Hanoi Stock Exchange, the HNX closed up 0.25 point or 0.37% to 67.97. Trading volume fell 11.2% to 21.3 million shares traded for VND217.7 billion of which 2 million shares worth VND34.4 billion were changed hands in put-through deals.

Market breadth was negative with 77 gainers, 138 losers and 71 flat issues and 107 untraded. Among top 10 market caps, 3 gained, 3 lost and 4 unchanged.

Kim Long Securities JSC (KLS) was the most active stock with 2.8 million shares traded, closing down 1% to VND10,000 on average.

VNDIRECT Securities Corporation (VND) came second with 0.9 million shares traded, closing down 1% to VND10,200 on average.

Wall Street Securities JSC (WSS) ranked third in the list with 0.9 million shares traded, closing down 2% to VND4,900 on average.
Source Scarlet D./ Analyst / StoxPlus

Tags: vietnam stock, Vietnam stock market, VNindex