Directionless Stock Market Marks Time (31/08)
06/08/2010 - 89 Lượt xem
Blue chips regained some ground. Petro Viet Nam Drilling and Well Services (PVD) and Tan Tao Industrial Zone (ITA) added VND3,000, Viet Nam Petroleum Transport (VIP) increased by VND3,500 and Schenker-Gemadept Logistics (GMD) went up by VND1,000.
The gain by VIP, which is trying to raise enough cash to buy two 16,500-DWT oil tankers, came after a bonus share issue by the company and the news that VIP had entered into a new joint venture, called the Petrolimex Petrochemical Joint-Stock Company, with a 30% stake.
Even so, sell orders for 40,000 VIP shares failed to be matched, showing that investors were questioning whether VIP was truly recovering or not.
Stocks of food companies had a relatively good day thanks to the seasonal surge in mooncake sales as mid-autumn approaches. Kinh Do Food (KDC) rose VND5,000 and Bien Hoa Confectionery (BBC) added VND3,500.
It wasn’t all good news, as the tired index showed. FPT Corporation (FPT) dropped VND1,000 and Pha Lai Thermal Power (PPC) fell VND500 while Sacombank (STB), Vinamilk (VNM), Vinh Son Hydro Power (VSH), Saigon Cables & Telecommunications Material (SAM) and REE Technology (REE) were unchanged.
Small caps fared better and some even managed a decent rally. Vien Lien (UNI) and Hang Xanh Auto (HAX) rose VND3,500, Hacisco (HAS) increased VND4,500, and Lam Dong Minerals & Building Materials (LBM) added VND2,000.
Medium caps also rose after some good results came out. My Chau Printing and Packaging (MCP) added VND2,200 and Ha Noi Maritime (MHC) rose VND1,500.
To conclude, nothing conclusive about the market’s future trend can be drawn from the action today.
Source: SGGP.
