Ha Noi Bourse Ignores Southern Sentiment

As the VN-Index dropped 0.67 points to 1,095.53 at the Ho Chi Minh Stock Exchange on Thursday, the northern bourse in Ha Noi saw the HASTC-Index rise VND2.37 points to 379.7.

Down south in Ho Chi Minh City, sudden drops by several blue chips drag the stock market down a touch (Photo: VnExpress)
Small caps have been the big winners in Ha Noi for the past two months, and many investors are starting to worry that the party might soon be over.
 
Nearly a dozen stocks of the Song Da Corporation like S64, S99, SD7, SD9 and STP have made money for their shareholders.
 
What concerns them now is the unpredictable nature of the rallies, which seem to ignore the fundamentals and leave investors wondering what they are really buying.
 
It’s all about making a quick buck at the moment, or rather dong. That’s why small caps like Phu Phong Production-Trade-Service (PPG), Sapco (SAP), Song Da Cement (SCC), Sai Son Cement (SCJ), Song Da 9 (SD9), Song Da Investment-Development (SIC), Song Da Industry Trade (STP) and Tu Son Viglacera (VTS) all rose limit up as buy orders went begging. 
 
Meanwhile, blue chip shares like the Asia Commercial Bank (ACB), Bim Son Cement (BCC), But Son Cement (BTS), Petroleum Technical Services (PVS) and Thac Ba Hydropower (TBC) saw little change in their prices.
 
Down south in Ho Chi Minh City, sudden drops by blue chips like Sacombank (STB), FPT Corporation (FPT), Hau Giang Pharmaceutical (DHG), Sudico (SJS), Vincom (VIC), Saigon Hotel (SGH), Kinh Do Food (KDC), North Kinh Do (NKD), Saigon Cables & Telecommunication Materials (SAM) and REE Technology (REE) as the session drew to a close dragged the market down a touch.

Reported by Tuong Chau – Translated by Thuy Hang

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