Business

Market rebounds on blue chips

Stocks rebounded on the two exchanges on December 12 after plunging to psychological support levels, led by blue chips.
Stocks rebounded on the two exchanges on December 12 after plunging to psychological support levels, led by blue chips.

On the Ho Chi Minh Stock Exchange, the VN-Index recouped 0.69 percentto close the session at 553.93 points after dropping to the daily low of550 points.

Recovery of blue chips like Hoang AnhGia Lai Co (HAG), Kinh Do Corp (KDC), Saigon Securities Inc andVietcombank (VCB) helped lift the market, with advancers doublingdecliners.

The VN30, which tracks the top 30 sharesby market value and liquidity, also climbed 0.75 percent to finish at609.33 points.

Bargain hunting pushed up liquidity.Market volume and value increased 20 percent over the previous day'slevels, totaling 77.4 million shares worth 1.343 trillion VND (63million USD).

FLC Group (FLC) remained the most activecode by the end of the session with 9.7 million shares, closing flat at11,000 VND a share.

On the Hanoi Stock Exchange, theHNX-Index added 0.18 percent to end at 84.55 points while the HNX30,tracking performance of the top 30 shares, rose 0.65 percent to 167.99points.

Trading volume was little changed from theprevious session, reaching just 42 million shares, but value of tradesdecreased 10 percent to 658.4 billion VND (30.9 million USD).

KLF Joint Venture Global Investment Co (KLF), a subsidiary of FLCGroup, was again the most heavily bought and sold stock with 8.9 millionshares traded. The share price jumped 3.2 percent to 13,000 VND.

Foreign investors returned to being net buyers in the HCM City marketbut bought just 2.35 billion VND (110,300 USD) worth of shares. Theyremained net sellers on the Hanoi exchange, unloading 47.54 billion VND(2.2 million USD) worth of shares.-VNA
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