Shares rebound, values down
Shares rebound, values down
Shares managed to rebound after Monday's heavy tumble, with the VN-Index on the HCM City Stock Exchange edging up 0.9 per cent to 474.53 points.
However, trading value declined mirroring previous positive sessions, while value has increased in recent negative sessions.
With more than 28.7 million shares changing hands yesterday, trading value totalled VND427 billion (US$20.1 million).
"Despite posting gains, today's transactions plus low liquidity show that the trend after today's session will not improve," said FPT Securities Co analysts in a note yesterday.
Blue chips performed well, lifting the VN30 up 1.15 per cent to 530.19 points.
Among the 30 shares it tracks, only Becamex Infrastructure Development (IJC), private equity group Masan (MSN) and PetroVietnam Finance (PVF) retreated. Meanwhile, 25 others finished in the black.
On the Ha Noi Stock Exchange, the HNX-Index added 0.6 per cent to close at 60.04 points.
Trading value was virtually unchanged from Monday's level at VND120.36 billion ($5.6 million) on a volume of 18.6 million shares.
The HNX30, representing the northern exchange's 30 leading shares in terms of capitalisation and liquidity, rose 1 per cent to 109.22 points.
"The market is showing instability when it is exposed to sudden and unexpected ups and downs in the short term," FPT Securities Co analysts said. "Investors are still cautious, so they expect very low profits."
Liquidity remained a matter of concern, while blue chips in the VN30 have lost their attraction. "We believe instability of market sentiment and low liquidity will continue to send share prices down," they added.
Foreign investors returned as net sellers yesterday, unloading a combined net value of VND3.8 billion ($179,200).
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