Business

Shares bounce back after falling to seven-month low

National stocks rallied on December 18 after plummeting for two sessions to a record seven-month low.
National stocks rallied on December 18 after plummeting for two sessions to a record seven-month low.

On the Ho Chi Minh Stock Exchange, the VN-Index jumped 1.97 percent to reach 528.45 points.

However,transaction value was lower than previous day's level by 33 percent at 2trillion VND (93.9 million USD) on a volume of 113.3 million shares.

TheVN30 Index, comprising the city's 30 largest stocks in terms ofcapitalisation and liquidity, added 1.6 percent to 578.88 points. Onlyinsurer Bao Viet (BVH), Da Nang Rubber (DRC) and Sacombank (STB) lostground, while PetroVietnam Drilling Services (PVD) and propertydeveloper FLC Group (FLC) hit their ceiling prices.

FLC, alongwith Quang Nam Rubber (VHG) and Thong Nhat Production and Investment(GTN), were favoured, with millions of buying surplus shares.

Meanwhile,keeping company to PVD was PetroVietnam Gas (GAS), which also greatlyimpacted the market. Contrary to previous sessions when oil and gasstocks pushed the market down, the reverse happened on December 18.

On the Hanoi Stock Exchange, the HNX-Index climbed nearly 2.6 percent to close at 82.70 points.

The HNX30 Index, representing the performance of the bourse's top 30 blue chips, increased 2.9 percent, reaching 161.65 points.

Trading value and volume reached 781.8 billion VND (36.7 million USD) and 60.56 million shares.-VNA
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