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Shares rebound on both bourses
National stocks rallied yesterday on both exchanges. On the HCM City Stock Exchange, the VN-Index jumped 1.09 per cent to reach 580.6 points.
Transaction value reached nearly VND2.1 trillion (US$98.6 million) on a volume of 111.66 million shares.
The VN30 Index, comprising the city's 30 largest stocks in terms of capitalisation and liquidity, added 0.59 per cent to 619.39 points. Eight of the blue chips slumped slightly, while 16 others rose, with Ocean Group, whose 8.6 million shares were traded, hitting the ceiling price. Ocean Group is among the top 20 most active codes.
Shares of Vietinbank (CTG), Vinamilk (VNM), Pha Lai Thermalpower (PPC), and Phu My Fertiliser (DPM), as well as property developer Hoang Anh Gia Lai (HAG) also rebounded strongly.
The buying power was positive, with large-cap stocks such as PetroVietnam Gas (GAS), the Bank for Investment and Development of Vietnam (BIDV), VNM and CTG. The group of large-cap stocks in general added 0.9 per cent, according to vietstock.vn.
Also, mid-cap stocks rose at the same rate.
On the Ha Noi Stock Exchange, the HNX-Index climbed 0.55 per cent to end at 85.18 points.
The HNX30 Index, representing the performance of the bourse's top 30 blue chips, increased 0.56 per cent, reaching 165.76 points.
Trading value and volume reached VND748.16 billion ($35.1 million) and 48.5 million shares.
Foreign investors suddenly turned out to be net sellers, unloading VND256.8 billion ($12 million) after acting as net buyers in the previous session.
Investors were advised to buy shares with bright expectations for business results in the fourth quarter of last year. Bao Viet Securities Co's Tran Duc Anh recommended national resource exploiter Hoa An (DHA) with a forecast that the target price of the stock could reach some VND21,000, higher than yesterday's close by 54.4 per cent.
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