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Market concerns lessen over FX rate
Concerns over the foreign exchange rate began to cool on Feb. 17, slowing market decline. In HCM City, the VN-Index lost 0.64 per cent to close at 509.83 points.
Trading volume rose 20 per cent over Wednesday to nearly 36 million shares, worth VND856.1 billion (US$40.8 million).
Influential stocks such as Bao Viet Holdings (BVH), Masan Group (MSN) and software producer FPT Corporation (FPT) put an end to their slide, with BVH and FPT closing unchanged, and MSN rallying by 1.1 per cent.
Banking stocks rose again, with Viet Nam Export-Import Commercial JSB (EIB) rising 1.3 per cent and VietinBank (CTG) rising 2 per cent, while Sacombank closed unchanged.
A number of penny stocks hit their ceiling prices, including Khang An Investment Real Estate (KAC), up 4.9 per cent; Viet Nam Container Shipping (VSC), up 4.7 per cent, Ngo Han Company (NHW), up 4.5 per cent and Vinpearl Land (VPL), up 4.2 per cent.
Saigon Securities Inc (SSI) was the most active stock, with 2.7 million shares changing hands. SSI closed down 1.8 per cent at VND28,100.
In Ha Noi, the HNX-Index dropped 1.44 per cent to 103.47 points.
Volume was 37.9 per cent higher than on Wednesday at 26.2 million shares, worth VND428.8 billion ($20.4 million).
Kim Long Securities (KLS) was the most heavily traded with 1.4 million shares exchanged.
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