Penny stocks attract investors
On the HCM Stock Exchange on July 25, the VN-Index Composite fell
0.65 percent to 412.91 points compared to the previous day's close.
On the HCM Stock Exchange on July 25, the VN-Index Composite fell
0.65 percent to 412.91 points compared to the previous day's close.
Decliners overwhelmed advancers by 153-71. About 43.5 million shares changed hands on a turnover of 707 billion VND (33.6 million USD).
The rally of seven of the 30 leading shares tracked by the VN30 failed to lift the index, as they are less influential than the remaining 23 shares. The VN30 finally retreated 0.6 percent, reaching 488.37 points.
Among penny stocks, mineral shares are heavily sold, including Bac Giang Minerals Co (BGM), Na Ri Hamico Minerals (KSS), Binh Thuan Mineral (KSA) – which all bottomed out – and Tay Bac Mineral Investment Co (KTB).
Meanwhile, small-cap Lu Gia Mechanical Electric Co (LGC) emerged to be a very active listed code with over 1.7 million shares changing hands. It closed at a ceiling price of 17,900 VND (0.80 USD).
HCM City Infrastructure Investment Co (CII) is showing interest in LGC, intending to acquire a major stake in the company. While CII aims to reduce its ownership in subsidiaries and affiliates, it wants to increase the holding percentage from 26.19 to over 51 percent in LGC.
Le Quoc Binh, director of CII and chairman of LGC, said the market price of LGC shares is lower than book value, while LGC have potential.
LGC's business will be beneficial to CII's infrastructure projects, Binh said.
On the Hanoi Stock Exchange, the HNX-Index lost another 0.23 percent from the previous day's session, standing at 69.68 points.
Blue chips in Hanoi, such as Asia Commercial Bank (ACB), insurer PVI Holdings (PVI) and construction giant Vinaconex (VCG) are the main force to help the HNX30 decline at the lowest speed among indices. This 13-day-old index slid 0.17 percent to 132.08 points.
The overall value of trades fetched nearly VND346.9 billion, dropping 27.6 percent compared to July 24's level, on a volume of 37.4 million shares.
PetroVietnam Construction Co (PVX) was still the most heavily traded stock with some 6.5 million shares exchanged.
"Although the declining rate of the market has slowed, investors are more cautious," Hoa Binh Securities Co analyst Nguyen Thi Huong wrote in a note.
Indices are coming back to their previous support levels after four successive sessions of decrease. "Any new recovery will need an improvement in trading volumes to define market trends in the short term," she said.
Huong also advised investors not to buy shares if rally signals are not clear.-VNA
Decliners overwhelmed advancers by 153-71. About 43.5 million shares changed hands on a turnover of 707 billion VND (33.6 million USD).
The rally of seven of the 30 leading shares tracked by the VN30 failed to lift the index, as they are less influential than the remaining 23 shares. The VN30 finally retreated 0.6 percent, reaching 488.37 points.
Among penny stocks, mineral shares are heavily sold, including Bac Giang Minerals Co (BGM), Na Ri Hamico Minerals (KSS), Binh Thuan Mineral (KSA) – which all bottomed out – and Tay Bac Mineral Investment Co (KTB).
Meanwhile, small-cap Lu Gia Mechanical Electric Co (LGC) emerged to be a very active listed code with over 1.7 million shares changing hands. It closed at a ceiling price of 17,900 VND (0.80 USD).
HCM City Infrastructure Investment Co (CII) is showing interest in LGC, intending to acquire a major stake in the company. While CII aims to reduce its ownership in subsidiaries and affiliates, it wants to increase the holding percentage from 26.19 to over 51 percent in LGC.
Le Quoc Binh, director of CII and chairman of LGC, said the market price of LGC shares is lower than book value, while LGC have potential.
LGC's business will be beneficial to CII's infrastructure projects, Binh said.
On the Hanoi Stock Exchange, the HNX-Index lost another 0.23 percent from the previous day's session, standing at 69.68 points.
Blue chips in Hanoi, such as Asia Commercial Bank (ACB), insurer PVI Holdings (PVI) and construction giant Vinaconex (VCG) are the main force to help the HNX30 decline at the lowest speed among indices. This 13-day-old index slid 0.17 percent to 132.08 points.
The overall value of trades fetched nearly VND346.9 billion, dropping 27.6 percent compared to July 24's level, on a volume of 37.4 million shares.
PetroVietnam Construction Co (PVX) was still the most heavily traded stock with some 6.5 million shares exchanged.
"Although the declining rate of the market has slowed, investors are more cautious," Hoa Binh Securities Co analyst Nguyen Thi Huong wrote in a note.
Indices are coming back to their previous support levels after four successive sessions of decrease. "Any new recovery will need an improvement in trading volumes to define market trends in the short term," she said.
Huong also advised investors not to buy shares if rally signals are not clear.-VNA
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