Shares rebounded in the latter half of Dec. 9's sessions on both the HCM
City and Hanoi stock exchanges, with rallying indices helping reverse
two days of market corrections.
On the HCM Stock Exchange, the VN-Index jumped 1.68 percent to close at
460.45 points. However, the volume of trades decreased by 16.6 percent
from Dec. 8's session to 59.8 million shares, worth a combined 1.35
trillion VND (64.3 million USD). Advancers outnumbered decliners by
189-46, while 42 codes hit their ceiling prices.
Only nine codes slumped to the floor compared to about two-thirds of stocks on Dec. 8.
Among blue chips, Sacombank (STB) rose by 4.2 percent, Phu My
Fertilisers (DPM) by 3.8 percent, Hoa Phat Group (HPG) by 3.1 percent,
and software giant FPT by 1.5 percent.
PetroVietnam Finance (PVF) and Saigon Securities Inc (SSI) soared to their ceiling prices.
Property developer Quoc Cuong Gia Lai Co (QCG) became the most active
on the southern bourse, with almost 5.6 million shares traded. QCG rose
0.3 percent to close at 29,000 VND (1.38 USD).
After
two consecutive days of losses, many shares had dropped to attractive
price levels again, prompting bottom-seeking investors to increase
buying, particularly in blue chips, said analysts with Au Viet
Securities Co.
"This is a positive sign showing that cash flow is still flowing into the stock market," they wrote in their daily report.
On the Hanoi Stock Exchange on Dec. 9, the HNX-Index gained 1.48
percent to close at 112.13 points. Volume decreased slightly to 62.2
million shares, totaling over 1.16 trillion VND (55.2 million USD).
Advancers and decliners were split by 188-107, while Kim Long Securities
(KLS) was again the most heavily-traded stock nationwide on a volume of
6.71 million shares.
KLS closed up 1.3 percent on
Dec. 9 to 15,900 VND (0.75 USD) per share. Foreign investors continued
to be net buyers on both national stock exchange, picking up a combined
2.6 million stocks worth just 37 billion VND (1.8 million USD).
The State Securities Commission recently estimated that net foreign
capital inflows to the stock market had reached 920 million USD by the
end of November. Of that figure, over 600 million USD was poured into
listed stocks, while the remaining was in the form of over-the-counter
share purchases, fund certificates and bonds.
The
commission has completed a draft plan aimed at attracting foreign
investment by increasing the percentage of foreign ownership in domestic
companies and completing a legal framework to support derivative
products and overseas securities issues./.