Market surges on pillar stocks
Shares rose on Thursday morning as risk appetite returned, helping many stocks to recover.
The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) edged 13.16 points, or 1.04 per cent, higher to close the morning trade at 1,283.95 points.
The market's breadth was positive with 261 stocks increasing while 100 stocks declined. However the liquidity was lower than yesterday, as over VND9.4 trillion (US$409.4 million) was poured into the market, equivalent to a trading volume of more than 294.7 million shares.
The index's recovery was thanked to gains in large-cap stocks. The VN30-Index, which tracks 30 biggest stocks on the southern bourse, witnessed an increase of 1.01 per cent to 1,420.75 points. Of the VN30 basket, twenty-six stocks climbed while only four stocks slid.
Top stocks influencing the market's trend were in attractive sectors like real estate, banking and material. Of which real estate led the gain with Vingroup JSC (VIC) rising the most in market capitalisation, up 1.92 per cent.
It was followed by Vinhomes JSC (VHM), Vietnam Rubber Group (GVR), Vietinbank (CTG) and FPT Corporation (FPT). These stocks jumped at least 1.67 per cent in the morning session.
On the Ha Noi Stock Exchange (HNX), the HNX-Index also inched higher this morning, up 0.9 per cent to 303.52 points.
Meanwhile, foreign investors kept fleeing from the market.