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Market inches higher on energy, seafood stocks
Indices advanced on Thursday morning, backed by recoveries in energy and seafood stocks after a strong sell-off in the previous session.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) struggled as it curbed the early loss to end higher in the morning trade. Of which, the benchmark rose 0.64 points, or 0.05 per cent, to 1,169.91 points.
It gained despite the 30 biggest stocks tracker VN30-Index still losing 2.08 points, or 0.17 per cent, to 1,225.1 points.
The southern market's breadth remained in negative territory with more stocks declining than increasing. Liquidity also fell sharply compared to the previous session. Accordingly, the matching value on the HoSE tumbled 35.3 per cent to VND4.42 trillion (US$190.1 million).
However foreign investors net bought more than VND140 billion on the southern bourse in the morning session.
On the Ha Noi Stock Exchange (HNX), the HNX-Index climbed 1.82 points, or 0.68 per cent, to 271.21 points.
Leading the rally was PV Gas (GAS) with a gain of 2.52 per cent. Other stocks supporting the bullish market were PetroVietnam Technical Services Corporation (PVS) up nearly 5 per cent, PetroVietNam Chemical And Services Joint Stock Corporation (PVC) up nearly 4 per cent, PV Drilling (PVD) up 2.17 per cent, Vinh Hoan Corporation (VHC) up 3.1 per cent, and Navico (ANV) up 6.74 per cent.
Gains were limited by persistent selling pressure with real estate stocks facing great losses, of which the trio of stocks of the Vin family all posted falls of at least 1.5 per cent - Vingroup (VIC) down 1.6 per cent, Vinhomes (VHM) down 1.54 per cent and Vincom Retail (VRE) down 1.75 per cent.
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