HA NOI — Trading exploded on the HCMC Stock Exchange yesterday – driven largely by soaring trades in Sacombank (STB) shares and halting the recent decline of the VN-Index. However, stocks continued to slide on the Ha Noi bourse due to weak demand.
|An investor checks the big board at the offices of Bao Viet Securities Co. — VNS Photo Viet Thanh
On the HCMC exchange, the value of trades skyrocketed to nearly VND2.6 trillion (US$125 billion), while volume reached a whopping 171 million shares.
Negotiated transactions accounted for 151 million shares, worth nearly VND2.4 trillion ($114 million) – and most of these were shares of STB, which saw trades totalling VND2.34 trillion ($111.4 million) and a volume of 148 million shares. Analysts reckoned these were unloaded by ANZ Bank and Refrigeration&Electrical Engineering Corporation (REE) as the negotiated sales were equivalent to amounts ANZ and REE had registered to sell.
Through order-matching, STB was also the most-active share in HCM City, with 3.5 million shares traded before they hit their ceiling price of VND16,800 per share.
The market actually remained in its habitual downtrend during the first hours of yesterday's trading but made a turnaround after investors witnessed the incredible volume in the STB code, an FPT Securities Co analyst wrote on the company's website.
"Most investors had thought it was just another day of declines before Sacombank began trading heavily," he said.
The VN-Index ended four sessions of consecutive declines with a gain of 0.77 per cent, closing yesterday at 339.32 points. Advancers edge decliners by a margin of 110-91, with eight out of the 10 leading shares by capitalisation posting gains. Along with STB, real estate developer Vincom (VIC) also hit its ceiling price.
On the Ha Noi Stock Exchange, the HNX-Index declined by 0.29 per cent from the previous session to close at 55.27 points. Volume rose slightly to 22.3 million shares but the value of trades decreased by nearly 8 per cent to just VND158.5 billion ($7.5 million). As in HCM City, however, advancers outnumbered decliners by a narrow margin of 101-91.
VNDirect Securities (VND) was the most-active share, with nearly 2.7 million traded, but the code lost 1.6 per cent to close at VND6,000.
Foreign investors were net sellers in HCM City of shares worth a net of over VND1.8 trillion ($85.7 million), but they were net buyers on the Ha Noi bourse, picking up a net of VND2.8 billion ($133,000) worth of shares. — VNS