Market bounces back as blue chips make a return
Shares rebounded on April 17 on the two national bourses, ending a five-day losing streak, as blue chips gained ground.
Shares rebounded on April 17 on the two national bourses, ending a five-day losing streak, as blue chips gained ground.
On the Hochiminh Stock Exchange, the VN-Index regained 1.05 percent to end at 580.31 points.
Many blue chips rallied on April 17, including Bao Viet Holdings (BVH), VinGroup (VIC), Phu My Fertiliser (DPM), Masan Group (MSN) and PV Gas (GAS), which increased from 0.8-1.7 percent.
Twenty-three of the top 30 shares by market value and liquidity gained while only six declined and one closed flat. This helped the VN30 grow 1.22 percent to end at 642.48 points.
"Many traders returned to buy local shares, particularly blue-chips, on lower valuations at the back of the past downward run. Risk appetites grew on speculation that the market had overacted to the correction period," said analysts at FPT Securities Co.
Trading decreased from the previous session, however, as both market volume and value fell 10 percent, totalling nearly 118 million shares and fund certificates, worth 2.238 trillion VND (106 million USD).
Real estate developer FLC Group (FLC) became the most active code on April 17 after several days of sell-off. More than 9.7 million FLC shares changed hands at 13,700 VND, up 2.24 percent over April 16's close.
On the Hanoi Stock Exchange, the HNX-Index grew 1.19 percent to close at 83.60 points, while the HNX30 also gained over 2 percent to end at 172.08 points.
Overall market volume and value declined, however, as just 56 million shares worth 613 billion VND (29 million USD) were traded, down 40 percent in volume and value compared with April 16.
PetroVietnam Construction Corp (PVX) was still the most active with nearly eight million shares traded, but prices tumbled 1.85 percent to close at 5,300 VND per share.
After one day of net buying on April 16, foreign investors returned to be net sellers on April 17 on the HCM City market, unloading shares worth 37.34 billion VND (1.8 million USD). The shares under their selling pressure were large-cap shares, such as DPM, VIC and property Hoang Anh Gia Lai Co (HAG).
However, foreigners were net buyers on the Hanoi stock exchange, picking up shares worth 9.41 billion VND (446,000 USD).-VNA
On the Hochiminh Stock Exchange, the VN-Index regained 1.05 percent to end at 580.31 points.
Many blue chips rallied on April 17, including Bao Viet Holdings (BVH), VinGroup (VIC), Phu My Fertiliser (DPM), Masan Group (MSN) and PV Gas (GAS), which increased from 0.8-1.7 percent.
Twenty-three of the top 30 shares by market value and liquidity gained while only six declined and one closed flat. This helped the VN30 grow 1.22 percent to end at 642.48 points.
"Many traders returned to buy local shares, particularly blue-chips, on lower valuations at the back of the past downward run. Risk appetites grew on speculation that the market had overacted to the correction period," said analysts at FPT Securities Co.
Trading decreased from the previous session, however, as both market volume and value fell 10 percent, totalling nearly 118 million shares and fund certificates, worth 2.238 trillion VND (106 million USD).
Real estate developer FLC Group (FLC) became the most active code on April 17 after several days of sell-off. More than 9.7 million FLC shares changed hands at 13,700 VND, up 2.24 percent over April 16's close.
On the Hanoi Stock Exchange, the HNX-Index grew 1.19 percent to close at 83.60 points, while the HNX30 also gained over 2 percent to end at 172.08 points.
Overall market volume and value declined, however, as just 56 million shares worth 613 billion VND (29 million USD) were traded, down 40 percent in volume and value compared with April 16.
PetroVietnam Construction Corp (PVX) was still the most active with nearly eight million shares traded, but prices tumbled 1.85 percent to close at 5,300 VND per share.
After one day of net buying on April 16, foreign investors returned to be net sellers on April 17 on the HCM City market, unloading shares worth 37.34 billion VND (1.8 million USD). The shares under their selling pressure were large-cap shares, such as DPM, VIC and property Hoang Anh Gia Lai Co (HAG).
However, foreigners were net buyers on the Hanoi stock exchange, picking up shares worth 9.41 billion VND (446,000 USD).-VNA
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