Shares show marginal recovery
Shares show marginal recovery
The market saw a slight rebound yesterday on the HCM City Exchange, following a fall on Thursday.
However, liquidity was low as the Tet holiday (Lunar New Year) approaches.
Over 55.6 million shares changed hands on the southern bourse yesterday, with a total value of nearly VND813.4 billion (US$38.7 million).
The VN-Index reached 505.37 points, marking a rise of 0.17 per cent over Thursday trading, due to gains from blue chips.
The VN30-Index, tracking the southern bourse's top shares by capitalisation and liquidity, edged up by 0.14 per cent yesterday to reach 562.8 points.
Activity was low due to the approaching Tet holiday.
Gains from VND100 ($0.0048) to VND1,400 ($0.06) per share of 11 blue chips, including Southern Rubber Company (CSM), Hoa Phat Group (HPG), Hoang Anh Gia Lai (HAG), Hoa Sen Group (HSG), Vietcombank (VCB), Vingroup (VIC) and Vinamilk (VNM). They supported the benchmark index to end on a positive note.
Of the 30 largest stocks, 11 codes dipped, such as Kinh Do (KDC) and PetroVietnam Drilling (PVD) which were VND1,000 ($0.047) lower per share, and Masan Group (MSN) which dropped to VND500 ($0.023).
Overall, decliners overwhelmed losers by 102-97, despite the gain in the benchmark index.
According to FPT Securities, in the short term the VN-Index was facing difficulties in entering the very strong resistance band of 510-520 points.
On the Ha Noi Exchange, the HNX-Index increased slightly, rising 0.06 per cent higher to 67.97 points. The HNXFF-Index, composed of stocks with a minimum free-float rate of 5 per cent, closed at 68.01 points, 0.03 per cent higher.
With more than 40 million shares traded, the total value reached only nearly VND265 billion ($12.6 million).
The HNX30-Index, representing the northern bourse's top shares, earned 0.22 per cent to 127.06 points.
The market rebound yesterday was a reaction to the Government's Resolution 01/NQ-CP issued on Thursday, regarding the measures of implementing a socio-economic development plan and the budget estimates through which the Government aims to develop a healthy stock market.
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