Shares rebound after falling for two days (29/8)

[hoanganh]

Stocks recovered this morning on both exchanges after two consecutive falling sessions, but trading remained sluggish.

On the HCM City Stock Exchange, the VN-Index gained 1.87 per cent to close at 392.99 points on a total turnover of more than VND356.5 billion (US$17 million).

Advancers outnumbered decliners by 165-45, led by blue chips.

Phu My Fertiliser (DPM) rose to the ceiling, while Insurer Bao Viet Holdings (BVH), dairy giant Vinamilk (VNM), Vietcombank (VCB) and steelmaker Hoa Phat Group (HPG) all jumped from 1-3.5 per cent.

However, Sacombank (STB), food giant Masan Group (MSN) and Eximbank (EIB) continued to decline in volume.

Eximbank was the most active code on trades of more than 2.1 million shares, rising 2.5 per cent to VND15,700 ($0.75) a share.

The VN30 tracking the top 30 shares on the southern bourse was also up 1.4 per cent to 460.46 points.

Meanwhile, the HNX-Index on the Ha Noi Stock Exchange also grew 2.16 per cent to finish at 61.02 points, with gainers overwhelming losers by 149-40.

The HNX30 also increased 3.45 per cent to stand at 116.21 points.

Almost 20.4 million shares, worth nearly VND190 billion ($9 million), changed hands this morning, with VNDirect Securities (VND) being the most active code on trades of more than three million shares.

VNDirect closed 4.2 per cent up to reach VND10,000 a share.
Trading will resume at 1pm.

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[tiennguyen888]

Stocks recovered yesterday on both exchanges after two consecutive falling sessions but trading remained sluggish.

On the HCM City Stock Exchange, the VN-Index regained 1.89 per cent to close at 393.06 points on a total turnover of VND582.4 billion (US$27.7 million).

Advancers outnumbered decliners by 206-36, led by blue chips.

Phu My Fertiliser (DPM), steelmaker Hoa Phat Group (HPG), Tan Tao Investment Industry (ITA) and logistic Gemadept (GMD) all rose to the ceiling while insurer Bao Viet Holdings (BVH), dairy giant Vinamilk (VNM) and Vietcombank (VCB) also increased from 1-3.5 per cent.
However, Sacombank (STB) and Eximbank (EIB) continued to decline, with the latter being the most active code on trades of almost 3 million shares, shedding 1.24 per cent to VND15,900 ($0.75) a share.

The VN30 tracking the top 30 shares on the southern bourse was up 1.22 per cent overall to reach 459.64 points.

Meanwhile, the HNX-Index on the Ha Noi Stock Exchange grew by a more substantial 3.6 per cent to finish at 61.88 points, with gainers overwhelming losers by 214-38.

The HNX30 also increase 4.71 per cent to stand at 117.62 points.

More than 33 million shares, worth nearly VND298.5 billion ($14.2 million), changed hands yesterday, with VNDirect Securities (VND) being the most active code on trades of 4.8 million shares. VND closed up 6.25 per cent to end atVND10,200 a share.

Investors seemed to calm down after chairman of Masan Group (MSN), who was rumoured to be detained following the arrests of the two former executives of Asia Commercial Bank (ACB), appeared in Viet Nam.

"They seemed to realise that they had over-reacted to inaccurate information and they yesterday rushed to pick up shares they shrugged off in the past days," analysts of FPT Securities Co wrote in a note.

"The market was also buoyed as bottom buying started late Tuesday when traders saw valuations were attractive to buy although local gasoline traders raised retail prices for the fourth time," they said.