Friday, August 18, 2017 - 2:31:07

Shares rebound after two-day slump

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After declining for two straight days, shares managed modest increases on both national stock exchanges on November 14.

The benchmark VN-Index on the Ho Chi Minh City Stock Exchange gained 0.35 percent to reach 497.85 points, while trading value remained virtually unchanged from Wednesday, reaching 853.3 billion VND (40.2 million USD) and over 60 million shares changing hands.

The VN30, tracking the city's top 30 shares, advanced 0.48 percent to 555.73 points, while among blue chips, gainers outnumbered losers by 13-7.

Property developer Hoang Anh Gia Lai (HAG) saw the highest trading volume of 4.9 million shares but slid 2.7 percent. The listed stock is due to pay dividends today, at a rate of 5 per cent.

On the Hanoi Stock Exchange, the HNX-Index closed up 0.09 per cent to 63.7 points, buoyed by shares from Bao Viet Securities (BVS), construction firms Vinaconex (VCG) and FIT Investment (FIT), Vietinbank Securities (CTS), Petrovietnam Technical Services (PVS) and Vietnam Germany Steel Pipe (VGS).

The HNX30, composed of the bourse's 30 biggest stocks in terms of capitalisation and liquidity, added 0.4 percent to 119.84 points. Trading value on the exchange totalled nearly 228.3 billion VND (10.7 million USD) on a volume of about 32.1 million shares.

Although shares rebounded, liquidity was low as investors remained cautious.

The operating results of some big companies in the third quarter are due to be announced. Bao Viet Securities Co analysts predicted improvements on the same period last year, but said it will be less positive than the second quarter.

"This can slow down the increase of the market," they said in a report.

"In the last two months of the year, the Government will continue to focus on stabilising the economy," they said, adding that the Vietnam Asset Management Company's management of bad debts and policies to simplify taxes, interest rates and credit access would boost growth in 2014.-VNA
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