Market rebounds on bargain-hunting

Shares recovered on Tuesday morning, as yesterday's large selloff triggered bargain-hunting activities in pillar stocks.

 

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) increased by 6.44 points, or 0.53 per cent, to 1,225.25 points.

However, the market's breadth was still negative with more stocks declining than climbing.

Liquidity decreased over the previous session, of which more than VND5.85 trillion (US$252.3 million) was poured into the southern market, equivalent to a trading volume of 230 million shares.

Meanwhile, foreign investors returned to the market after net buying VND167.78 billion.

The market benchmark's recovery was thank to gains in large-cap stocks after strong selloff.

In the top five stocks influencing the rally, Masan Group (MSN) was the biggest gainer this morning, up more than 4 per cent. It was followed by Vietcombank (VCB), Vinamilk (VNM), PV Gas (GAS) and Vietinbank (CTG), up in a range of 1.48-3.47 per cent.

Gains were pared by losses in some stocks, led by Hoa Phat Group (HPG), down 2.31 per cent.

On the Ha Noi Stock Exchange (HNX), the HNX-Index also recouped some of yesterday's losses. The index rose 0.63 points, or 0.21 per cent, to 301.29 points. 

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