Shares rebound on eased selling pressure

Dec 18th at 13:40

18-12-2013 13:40:27+07:00

The market rebounded yesterday due to lower selling pressures than experienced on Monday.

On the HCM City Exchange, the VN-Index advanced 0.72 per cent to 505.67 points.

Cash flow returned to the blue chips yesterday with 19 of the southern bourse's 30 largest stocks by capitalisation and liquidity adding value, however, caution remained.

The VN30-Index, composed of the 30 largest shares, edged up 0.89 per cent to 565.94 points.

Only two stocks decreased yesterday, including Vietinbank (CTG) and logistics company Gemardebt (GMD), which each lost VND100 ($0.0049) per share. Meanwhile, real estate giant Vingroup (VIC) rose VND2,500 (US$0.11) per share yesterday to VND70,000 ($3.33).

PetroVietnam Low Pressure Gas Distribution (PGD) and PetroVietnam Drilling (PVD) increased 3.6 per cent to VND37,400 ($1.7) per share and 2.5 per cent to VND61,500 ($2.9) per share, respectively.

Other advancers earned between VND100 ($0.0049) to VND600 ($0.028) per share, including Bao Viet Group (BVH), Hoa Sen Group (HSG), Hoa Phat Group (HPG), Hoang Anh Gia Lai (HAG), Masan Group (MSN), Vietcombank (VCB) and Ocean Group (OGC). Of note, the recovery of blue chips yesterday was linked to net buying from the foreign investors.

Also, smallcaps were active yesterday with FLC Group (FLC) leading the bourse, in terms of liquidity, with nearly 8 million shares traded.

Overall, 148 stocks increased, in comparison to 57 losing. More than 73.599 changed hands on the southern bourse yesterday, with a total value of VND929.5 billion ($44.26 million).

On the Ha Noi Exchange, the HNX-Index was up 0.56 per cent to 66.86 points and the HNXFF-Index, which is composed of stocks with a minimum free-float rate of 5 per cent, closed at 67.01 points, 0.7 per cent higher than Monday's session.

The bourse's total value reached VND344 billion ($16.38 million) on the exchange of 43.1 million shares.

The HNX30-Index, composed of the capital city's top shares, gained 0.85 per cent to 126.75 points.

According to FPT Securities, investors were showing caution about information regarding the restructuring of exchange traded funds (ETFs) this week, as these funds deleted holdings of many securities from their lists. Investors were also expecting business results at the end of the year.

Stock analysts at Bao Viet Securities forecast that buying and selling of ETFs would be strong on one or two of the final trading sessions of the week.

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