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Local bourses bounce back to black
The VN-Index made a long-awaited comeback yesterday after four consecutive sessions of losses.
On the HCM City Stock Exchange, the VN-Index gained 0.43 per cent to reach 495.72 points.
More than 50.44 million shares changed hands with a modest value of VND668.19 billion (US$31.81 million).
The VN30-Index, tracking the southern bourse's top shares in term of capitalisation and liquidity, added 0.42 per cent to close at 553.9 points.
Gainers overwhelmed losers by 19-4.
PetroVietnam Transport Corporation (PVT) was the star performer, increasing nearly 7 per cent to its ceiling price of VND9,200 (US$0.43) per share.
Gemadebt Corporation added 0.37 per cent to close at VND27,500 ($1.3) per share.
Four codes lost value: Eximbank (EIB), Pha Lai Thermoelectric Corporation (PPC), PetroVietnam Drilling (PVD) and Bourbon Tay Ninh (SBT), losing between VND100-500 per share.
On the Ha Noi Stock Exchange, the HNX-Index was also up 0.44 per cent to 60.76 points.
With more than 21.42 million shares traded, value on the capital's bourse totalled VND168.026 billion ($8 million), falling 14 per cent on the previous session.
The HNX30-Index, composed of the exchange's 30 leading shares, edged up 0.65 per cent, finishing at 112.50 points. Foreign investors concluded the day as net buyers, picking up 2.32 million shares worth VND41.73 billion ($1.98 million).
According to Bao Viet Securities, yesterday's market gains were mainly thanks to the surge in speculative stocks on both bourses, with blue chips staying placid.
This showed that cash flows into the market yesterday were targeting short term profits.
FPT Securities did not warm to the recovery on the VN-Index yesterday, saying investors should be cautious and withdraw from buying decisions to avoid risk.
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