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VN stocks rebound this morning
Vietnamese shares rose on both national exchanges this morning, reversing a four-day slump, after the State Securities Commission signalled efforts to prevent speculation and rumours amid a global financial rout.
The commission said Viet Nam was least likely to be impacted by plunging oil prices and that even if there were impacts, they would be "indirect".
The commission took action following heavy losses on both exchanges yesterday, which, it said, did not truly reflect the economic prospects of the Southeast Asian economy and of listed firms.
The VN-Index closed 0.54 per cent higher at 529.19 points on the southern bourse, while the benchmark HNX-Index finished at 73.42 points, 0.22 per cent higher, on the Ha Noi Exchange.
The VN30-Index, tracking the largest stocks by capitalisation on the HCM Stock Exchange, rose 0.61 per cent to close the morning session at 544.46 points. BIDV (BID), Bao Viet Holdings (BVH), Vinamilk (VNM) and Vietcombank (VCB) rebounded significantly, while the gains of gas stocks remained modest due to dim global oil price prospects.
The HNX30-Index was up 0.43 per cent to reach 126.58 points.
Speculative stocks such as FLC (FLC) and Tan Tao (ITA), which fell sharply yesterday, recovered this morning.
However, both national bourses witnessed low liquidity.
More than 72 million shares changed hands on the southern bourse with a trading value of VND908 billion (US$40.35 million). On Ha Noi Exchange, the trading value was VND170.8 billion ($7.6 million) on the exchange of nearly 19.3 million shares.
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