Speculative shares drive local market

Nui Beo Coal Mine in Quang Ninh Province (Photo: VNS/VNA)

Speculative shares played the role of hero on the national stock market on August 5, attracting attention from investors that drove both indices up to end a recent slump.

Foreign investors recorded a net buy value of 36 billion VND (1.65 million USD) on both bourses.

The VN-Index on the HCM Stock Exchange added 6.32 points to finish at 607.08 with 187 gainers against 40 declining ones.

The index declined during the early half of the session, but suddenly increased in the afternoon on weaker selling and stronger buying activity.

Market liquidity rose slightly to 1.89 trillion VND (86.95 million USD) in value with a total 108.5 million shares exchanged.

Speculative codes attracted large money flows, including Ocean Group Joint Stock Company (OGC), FLC Group (FLC) and HAI Agrochem Joint Stock Company (HAI) - all hit their ceiling values.

Among these speculative shares, FLC was the most active with more than 8.6 million shares traded.

Large-cap shares also made modest gains to drive the market up. In the VN30, the 30 largest shares in terms of capitalisation and liquidity, 29 shares improved.

Bao Viet Holdings (BVH) and Ma San Group Corporation (MSN) recorded the best gains of 2,000 VND and 1,000 VND, respectively.

Other key sectors like gas firms, banks and brokers also improved, helping the southern bourse.

Vietnam Dairy Products Joint Stock Company (VNM) worried shareholders and potential investors, loosing 21,000 VND – 18 percent of its market value. The company advanced the first dividend of this year in cash and issued more shares to increase its equity on August 5.

On the Hanoi Stock Exchange, the HNX Index went up 1.63 percent to close at 84.53 points with higher market liquidity and more advancing shares.

The index had strong fluctuations throughout the day but made big gains at the session's close.

The northern bourse traded a total 44.8 million shares with a trading value of 517 billion VND (23.7 million USD), and the number of advancers nearly tripled that of losers.

Like the southern market, investors on the Hanoi market also paid huge attention to speculative stocks such as KLF Joint Venture Global Investment (KLF) and FIT Investment JSC (FIT).

KLF topped the northern market on August 5 with 5.6 million shares exchanged, followed by FIT and PVX.

Leading stocks on the market performed well during August 5 session. Petroleum Technical Services Corporation (PVS) rose by 400 VND, Asia Commercial Bank (ACB) and VNDirect Securities JSC (VND) gained 300 VND.-VNA