Illustrative image (Photo: VNA) Hanoi (VNA) – Shares rebounded on the last day of November on the two exchanges after a four-day losing run as low stock valuations encouraged risk taking and foreign investors started to buy back local shares after nine consecutive net selling sessions.
On the Ho Chi Minh Stock Exchange, the VN-Index recouped over 1 percent to close trding at 656.1 points. The index lost nearly 3.7 percent in the last four sessions.
On the Hanoi bourse, the HNX Index added 0.8 percent to end at 80.6 points. It had decreased 1.7 percent in the past four trading days.
Market breadth improved with 249 of the total 691 stocks advancing while 174 declined.
“Buying force strengthened on speculation that valuations became attractive after the past decline,” stock analysts at FPT Securities Co. wrote.
The recovery of large-cap stocks pulled the market up, as 18 of the top 30 largest shares by market capitalisation and liquidity on the Ho Chi Minh City bourse rose while only eight fell.
Foreign sectors were responsible for a total net buy value of nearly 347 billion VND, putting a break on the nine-day net selling streak on the southern bourse.
They were also net buyers on the Hanoi market for a value of 652 million VND.
Liquidity increased over the previous session with a total of 194.2 million shares worth 3.6 trillion VND (158.6 million USD) traded in the two markets, up 16.8 percent in volume and 14.6 percent in value compared to the previous day./.
