The stock market experienced an emotional trading period on December 10with rapid reversals of prices, shooting up from red to green in justover an hour.
Oil and gas shares, the main drag on the market inprevious sessions, recovered on December 10 afternoon, giving themarket some essential momentum.
Except for PV Gas (GAS), whichfell 4 percent, stocks increased. PetroVietnam Drilling and WellsService (PVD) and PetroVietnam Drilling Mud Co (PVC) climbed more than3.85 percent, while PetroVietnam Technical Services (PVS) grew 1.81percent.
Big intra-day profits attracted risk-appetite investors. PVD closed up more than 11 percent from its daily low, for example.
However,analysts warned that December 10 rally could be a sort of sentimentalreaction. They said the market uptrend needed to be tested in the comingsessions, as heavyweight shares like GAS still weighed on the market'sperformance.
On the HCM Stock Exchange, the VN-Index recoupednearly 2 points, jumping from the day's low of 544.78 points in themorning to closing with 557.19.
Four times as many stocks rose as declined – evidence of positive market conditions.
Bluechips also rebounded, as shown by the VN30's 1.15-percent rise. TheVN30 tracks the top 30 shares by market value and liquidity in the HCMCity market. The VN30 closed at 610.81 points.
Liquidity fell,however, with the trading value down 40 percent to 119.4 million sharesand the value of trades down 30 percent to reach 2.3 trillion VND (108million USD).
On the Hanoi Stock Exchange, the HNX-Index alsorose 1.63 percent to finish at 85.22 points, with the gainers triplingthe losers.
The trading also declined there, as both tradingvolume and value decreased 40 percent from the previous session,totalling 54 million shares worth 792 billion VND (37.2 million USD).
Incontrast to domestic movement, foreign investors continued to unloadshares. They were responsible for a combined net sell of 103.2 billionVND (4.8 million USD).-VNA
Oil and gas shares, the main drag on the market inprevious sessions, recovered on December 10 afternoon, giving themarket some essential momentum.
Except for PV Gas (GAS), whichfell 4 percent, stocks increased. PetroVietnam Drilling and WellsService (PVD) and PetroVietnam Drilling Mud Co (PVC) climbed more than3.85 percent, while PetroVietnam Technical Services (PVS) grew 1.81percent.
Big intra-day profits attracted risk-appetite investors. PVD closed up more than 11 percent from its daily low, for example.
However,analysts warned that December 10 rally could be a sort of sentimentalreaction. They said the market uptrend needed to be tested in the comingsessions, as heavyweight shares like GAS still weighed on the market'sperformance.
On the HCM Stock Exchange, the VN-Index recoupednearly 2 points, jumping from the day's low of 544.78 points in themorning to closing with 557.19.
Four times as many stocks rose as declined – evidence of positive market conditions.
Bluechips also rebounded, as shown by the VN30's 1.15-percent rise. TheVN30 tracks the top 30 shares by market value and liquidity in the HCMCity market. The VN30 closed at 610.81 points.
Liquidity fell,however, with the trading value down 40 percent to 119.4 million sharesand the value of trades down 30 percent to reach 2.3 trillion VND (108million USD).
On the Hanoi Stock Exchange, the HNX-Index alsorose 1.63 percent to finish at 85.22 points, with the gainers triplingthe losers.
The trading also declined there, as both tradingvolume and value decreased 40 percent from the previous session,totalling 54 million shares worth 792 billion VND (37.2 million USD).
Incontrast to domestic movement, foreign investors continued to unloadshares. They were responsible for a combined net sell of 103.2 billionVND (4.8 million USD).-VNA
