Shares bounce back on blue chip recovery
Shares bounce back on blue chip recovery
Shares bounced back on Thursday morning as selling pressure weakened.
The VN-Index on the HCM Stock Exchange inched up 0.24 per cent to 727.31 points.
On the Ha Noi Stock Exchange, the HNX-Index was up 0.13 per cent at 90.03 points.
Both market indices decreased 0.8 per cent on Wednesday.
Many large-cap shares recovered this morning and supported the market, including VinGroup (VIC), Vietcombank (VCB), Vietinbank (CTG) and Bao Viet Holdings (BVH), as well as Saigon Securities Inc (SSI), Sabeco (SAB) and Mobile World Group (MWG).
Argibusimess Hoang Anh Gia Lai Co (HAG) and Hoang Anh Gia Lai Agricultural Investment Co (HNG) rose nearly one per cent on Thursday morning after witnessing a losing streak since last week.
Speculative stocks are under heavy selling pressure as they are on the list of stocks using high margin lending of securities companies. Prices of these stocks have increased substantially this year which prompted profit taking.
Liquidity, meanwhile, decreased slightly with over 111 million shares worth a combined VND2.1 trillion (US$92 million) traded on the two markets.
Afternoon trade starts at 1pm.
