Bourses finally bounce back
Bourses finally bounce back
Shares made gains on the HCM Stock Exchange on November 30, swinging back to success after six-straight sessions of decline.
The VN-Index was up 0.64 percent to close at 378.20 points, but the trade value was just 40 percent of the previous day's level, totaling VND231.6 billion (US$11.1 million).
"The rally seemed to be technical rather than reflecting improvements based on economic and corporate data," stock analysts of FPT Securities Co wrote in a report on November 30.
Most blue chips recovered slightly on November 30, helping to lift the Index. Heavy-weight shares such as dairy giant Vinamilk (VNM), food processor Masan Group (MSN), property developer VinGroup (VIC) and Vietcombank (VCB) all posted gains ranging from 0.7-2.2 percent.
The VN30, tracking the top 30 shares, closed in the green with a 0.63 percent rise, taking it to 444.27 points.
Trading remained sluggish overall, however, with Saigon Securities Inc (SSI) being the most active code with total trade of nearly 700,000 shares. SSI closed 1.42 percent up at 14,300 VND a share.
On the Hanoi Stock Exchange, the HNX-Index also crept up 0.2 percent to 51.10 points, but trading value remained pitiful at just VND86.35 billion ($4.1 million).
Sai Gon-Hanoi Bank (SHB) was again the most active code with 2.39 million shares exchanged, closing flat for the fourth day straight at VND4,800 a share.
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