Fears of bull trap slows down bourses
Fears of bull trap slows down bourses
Stocks continued to rise this morning but slowly, as investors were cautious of a potential "bull trap".
On the HCM Stock Exchange, the VN-Index increased 0.99 per cent to stand at 534.77 points, while the VN30, which tracks the top 30 shares by market value and liquidity, also advanced 0.8 per cent to close at 586.49 points.
The gainers outnumbered the losers by 133-49, while 119 codes were stayed flat.
Trading was modest with nearly 66 million shares worth VND938 billion, or US$44.5 million, being exchanged by the end of the morning.
The FLC Group (FLC) was again the most active code, with 7.7 million shares being exchanged at VND8,300 a share, up 3.75 per cent over yesterday's close.
On the Ha Noi bourse, the HNX-Index also inched up 0.32 per cent to end at 72.11 points.
The market volume reached 44 million shares, worth nearly VND361 billion, or $17.1 million.
PetroVietnam Construction (PVX) was the leading stock with nearly 8 million shares being traded at VND4,300 a share, a plunge of 6.5 per cent.
Trading will resume at 1pm.
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