Speculators buoy a risky market
The mid-day drop turned out to be an opportunity for risk taking
investors, which boosted both markets in the afternoon of August 30, the
last trading of the week.
The mid-day drop turned out to be an opportunity for risk taking
investors, which boosted both markets in the afternoon of August 30, the
last trading of the week.
On the Ho Chi Minh Stock Exchange, the VN-Index climbed 0.89 percent to close on 472.70 points before dropping back to 462 points.
Blue chips bouncing back also helped to lift the market. The VN30 tracking the 30 largest shares on the bourse closed up 1.47 percent at 531.23 points.
Nearly 35.5 million shares worth 739.3 billion VND (35.2 million USD) changed hands by the end of the session, down 10 percent in both market volume and value compared to the previous session.
Property developer An Duong Thao Dien Co (HAR) was still the most active on the day, trading 1.6 million shares, a loss of 4.3 percent to 8,900 VND each.
On the Hanoi Stock Exchange, the HNX-Index also increased from a three-month low to 61.19 points, up 1.38 percent over the previous session.
Trading improved on the northern bourse with the market volume up by 30 percent to 17.2 million shares while the value of trading climbed 20 percent to reach 137.5 billion VND (6.5 million USD).
Despite the day's surprising rises, many analysts believe the stock market is likely to fall in the medium and long terms, weighed down by foreign investors selling for a continuous period of time.
The foreign sector remained the net sellers on the HCM City market on August 30, selling stock worth 36 billion VND (1.7 million USD). It also sold nearly 200 billion VND (9.5 million USD) worth of shares during the previous session.-VNA
On the Ho Chi Minh Stock Exchange, the VN-Index climbed 0.89 percent to close on 472.70 points before dropping back to 462 points.
Blue chips bouncing back also helped to lift the market. The VN30 tracking the 30 largest shares on the bourse closed up 1.47 percent at 531.23 points.
Nearly 35.5 million shares worth 739.3 billion VND (35.2 million USD) changed hands by the end of the session, down 10 percent in both market volume and value compared to the previous session.
Property developer An Duong Thao Dien Co (HAR) was still the most active on the day, trading 1.6 million shares, a loss of 4.3 percent to 8,900 VND each.
On the Hanoi Stock Exchange, the HNX-Index also increased from a three-month low to 61.19 points, up 1.38 percent over the previous session.
Trading improved on the northern bourse with the market volume up by 30 percent to 17.2 million shares while the value of trading climbed 20 percent to reach 137.5 billion VND (6.5 million USD).
Despite the day's surprising rises, many analysts believe the stock market is likely to fall in the medium and long terms, weighed down by foreign investors selling for a continuous period of time.
The foreign sector remained the net sellers on the HCM City market on August 30, selling stock worth 36 billion VND (1.7 million USD). It also sold nearly 200 billion VND (9.5 million USD) worth of shares during the previous session.-VNA
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