Local shares manage to recover slightly hinh anh 1Investors follow the stock movements at the Hanoi Stock Exchange. (Photo: tbck.vn)

Hanoi (VNA)
- Shares rebounded on July 19 after three consecutive declining sessions but the recovery was fragile on modest liquidity.

The VN-Index on the HCM Stock Exchange recouped 0.5 percent to close at 771.3 points. The southern index had dropped 1.4 percent in the last three sessions.

Major large-cap stocks rescued the market, with earners including PV Gas (GAS), up 3.3 percent; brewery Sabeco (SAB) up 2.7 percent; Vietinbank (CTG), up 1.7 percent; Vinamilk (VNM), up 0.7 percent; Petrolimex (PLX) and BIDV (BID), both up 0.5 percent.

On the negative side, many blue chips remained in a downward spiral such as Vietcombank (VCB), real estate developer VinGroup (VIC), insurer Bao Viet Holdings (BVH), IT giant FPT Corp (FPT), steelmakers Hoa Phat Group (HPG) and Hoa Sen Group (HSG).

The VN30 which tracks the top 30 shares by market value and liquidity was down 0.5 percent to end at 737.77 points.

“The market returned to the short-term supportive level of 770 points but the uptrend was not sustainable due to low existing liquidity and weak market cash flow which mainly channeled into the main stock groups,” market analysts at BIDV Securities Co wrote in the July 19 report.

Almost 237 million shares worth 4.4 trillion VND (roughly 194 million USD) were traded in the southern market, nearly unchanged compared to the previous session.

Hoang Anh Gia Lai Co (HAG) and Tân Tạo Investment Industry Corp (ITA) recovered after a slump on Tuesday following the news that these three shares will be removed from the VN30 on July 24. HAG inched up 0.1 percent while ITA rose 0.9 percent.

On the Hanoi Stock Exchange, the HNX-Index was up 0.21 percent at 98.81 points. The northern market index lost 2.2 percent in the last three sessions.

Liquidity remained modest with 64.6 million shares worth 561 billion VND traded in the northern exchange.

Foreign traders ended as net sellers for total net value of 36 billion VND on the two bourses. They were net buyers for 86 billion VND on July 18.-VNA