Bottom fishing pushes shares up
Vietnamese shares bounced back on Friday morning after sharp falls in previous sessions sent stocks to attractive prices, thus triggering investors to bottom-fish.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.22 per cent to end the morning session at 972.53 points
More than 88.4 million shares were traded on the southern bourse, worth VND2 trillion (US$85.5 million).
Market breadth was positive on Friday morning with 161 shares gaining and 124 declining.
The southern market index had lost 0.80 per cent to end Thursday at 970.39 points.
The large-cap VN30-Index increased by 0.27 per cent to stand at 888.06 points.
On a sector basis, eight of the 25 sectors saw share prices dropping, including retail, agriculture, securities, logistics and construction materials.
On the opposite side, 17 of the 25 sectors saw share prices rising, including oil and gas, rubber production, food and beverage, healthcare, real estate, banking, wholesale, plastic and chemistry.
Thanks to bottom purchases, many large-caps gained this morning such as Masan Group (MSN), Bao Viet Holdings (BVH), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Phu Nhuan Jewellery (PNJ), Vingroup (VIC), Vinhomes (VHM), Vincom Retail (VRE), Asia Commercial Bank (ACB), Bank for Investment and Development of Vietnam (BID), Military Bank (MBB), Vietcombank (VCB), VPBank (VPB) and Techcombank (TCB).
On the Ha Noi Stock Exchange, the HNX-Index was up 0.23 per cent to end the morning session at 102.58 points.
More than 11.4 million shares were traded on the northern bourse, worth VND131.4 billion.
The northern market index had been down 0.86 per cent to end Thursday at 102.34 points.