VN stocks rebound from six-day fall
VN stocks rebound from six-day fall
Vietnamese shares rebounded yesterday after a six-day decline, led by large-cap stocks on the two local exchanges.
The benchmark VN Index on the HCM Stock Exchange rose 1.2 per cent to close at 656.11 points after falling 3.7 per cent in the previous six trading days.
The HNX Index on the Ha Noi Stock Exchange edged up 0.2 per cent to end at 83.70 points. The northern market index dropped 4.1 per cent during the previous six sessions.
Banks, insurance companies and energy firms were the major stocks that helped push market up yesterday.
Joint Stock Commercial Bank for Foreign and Trade of Viet Nam (VCB), Viet Nam Joint Stock Commercial Bank for Industry and Trade (CTG), and Joint Stock Commercial Bank for Investment and Development of Viet Nam (BID) were the strongest gainers in the banking sector. These stocks advanced between 1.1 per cent and 2.8 per cent.
In the insurance sector, Bao Viet Holdings (BVH), BIDV Insurance Corp (BIC) and Viet Nam National Reinsurance Corp (VNR) rose 1.7 per cent, 3.7 per cent and 2.6 per cent, respectively.
Energy stocks, including PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Service Corp (PVD) and PetroVietnam Technical Services Corp (PVS) rebounded despite crude continued sliding on global exchanges. GAS was up 2.5 per cent, PVD added 1.6 per cent and PVS ended up 2.4 per cent.
Other blue chips such as Saigon Securities Inc (SSI), property developer Vingroup JSC (VIC), Tien Phong Plastic JSC (NTP) and Viet Nam Construction and Import-Export Corp (VCG) also advanced.
Gains were also seen in other mid-cap and small-cap stocks.
Binh Duong Mineral and Construction JSC (KSB) jumped 5.9 per cent after Dream House Investment Corp (DRH) announced it would raise ownership in KSB to 51 per cent from the current 20.2 per cent. DRH yesterday closed up 1.9 per cent.
Fish traders Hung Vuong Corp (HVG) and Vinh Hoan Corp (VHC) extended gains from Tuesday after the two companies earlier this week reported higher earnings in the second quarter of the year.
Pharmaceutical companies also advanced, including Gemadept Corp (GMD), Domesco Medical Import Export JSC (DMC) and DHG Pharmaceutical JSC (DHG).
Investors traded more than 169 million shares worth VND2.84 trillion (US$126.4 million), an increase of 18.5 per cent from Tuesday's trading value.
