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Shares extend rallies, but liquidity falls
Oil and gas stocks climbed strongly this morning, after oil and petrol prices increased both at home and abroad, supporting the uptrend in the two markets.
The petrol price was hiked by nearly VND2,000 per litre last night in the domestic market, while global crude oil surged to its highest level since December, helping to prop up oil and gas stocks on the two exchanges.
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PV Gas (GAS), PetroVietnam Drilling and Wells Service Corp (PVD), PetroVietnam Drilling Mud Corp (PVC) and PetroVietnam Technical Services Corp (PVS) advanced by 2.7 to 3.7 per cent.
On the HCM Stock Exchange, the VN-Index edged up 0.13 per cent to close at 553.36 points, but the VN30, which tracks the top 30 shares by market value and liquidity, declined 0.4 per cent to stand at 583.11 points.
The market condition was negative, with 131 stocks sliding, 64 climbing and 110 remaining flat.
Despite the recovery yesterday, several investors and securities companies were skeptical about the sustainability of the recovery session that pushed liquidity down again.
Almost 37 million shares worth more than VND604 billion (US$28 million) were exchanged by the end of the morning, just two-thirds of yesterday morning's trade.
On the Ha Noi Stock Exchange, the HNX-Index inched down 0.07 per cent to end at 84.18 points, with a low turnover of VND286.4 billion ($13.3 million).
The afternoon session will begin at 1pm.
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