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Shares bounce back nationwide
The market managed to reverse the downward trend yesterday, finishing higher on both the national stock exchanges.
On the HCM City Exchange, the Vn-Index gained 4.97 points, or as much as 0.87 per cent, to end at 574.94 points.
However, the liquidity eased over previous sessions as the investors adopted a more cautious stance after losses on Monday and Tuesday.
With nearly 106 million shares changing hands, the total trading value reached VND1.78 trillion (US$84.76 million).
With gains reported in the share prices of 23 blue chips, the VN30-Index, tracking the southern bourse's 30 top shares, edged up 1.09 per cent to finish yesterday at 645.76 points.
Only HCM City Infrastructure Investment Corporation (CII), Da Nang Rubber Corporation (DRC), and Ocean Group (OCG) posted losses yesterday.
The benchmark indices were supported by the Kinh Do Joint Stock Company (KDC) with a gain of VND2,000 (9 cents) per share, Technology FPT Group (FPT), Masan Group (MSN) and real estate giant Vingroup (VIC) with a gain of VND1,000 (4 cents) per share each, and PetroVietnam Drilling Corporation (PVD) that added VND1,500 (7 cents) per share.
On the southern bourse, overall, gainers overwhelmed losers by 188-50.
Although the mood remained cautious yesterday, however, the buying power was strong enough for the market to regain and close on a high.
The northern bourse also witnessed a strong recovery yesterday, with the benchmark indices seeing gains of more than 1 per cent.
The HNX-Index added 1.06 per cent to end at 81.2 points, while the HNXFF-Index ended at 80.85 points, rising 1.16 per cent over Tuesday's trading.
The HNX30-Index advanced 1.21 per cent to reach 160.72 points.
The trading volume and value were reportedly lower than the previous sessions as both the sellers and buyers kept watch on the fluctuating market and more than 60 million shares valued at VND571 billion ($27.19 million) were traded.
Petrol and oil stocks posted an increase yesterday after Rong Viet Securities forecast a bright prospect for the sector in 2014, given that PetroVietnam planned to increase its investment capital by 33 per cent this year.
PetroVietnam Fertilisers and Chemicals Corporation (DPM), PetroVietnam Low Pressure Gas Distribution (PGD), PetroVietnam Drilling (PVD), and PetroVietnam Transportation Corporation (PVT) all closed yesterday in the black.
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