Shares climb on bargain hunting
Shares rebounded on May 14 on both stock exchanges, fuelled by
speculation that the market would rise in the coming days, after falling
to some of the lowest levels on record.
Shares rebounded on May 14 on both stock exchanges, fuelled by
speculation that the market would rise in the coming days, after falling
to some of the lowest levels on record.
The market plunged to a four-month low with many blue chips, including FPT Corp (FPT), Hoang Anh Gia Lai Group (HAG) and Saigon Securities Inc (SSI), shedding around 20 percent in the first two weeks of May.
Many investors rushed to buy cheap shares, pushing the VN-Index up 3.04 percent to close the May 14 session at 529.53 points.
On the Ho Chi Minh Stock Exchange, only one of the top 30 shares by market value and liquidity shed value, while 12 hit the ceiling price with the VN30-Index seen closing 3.88 percent higher at 581.83 points.
Market volume increased 10 percent over the previous session, totaling 108.3 million shares and fund certificates, worth nearly 1.47 trillion VND (69.7 million USD).
Real estate developer FLC Group (FLC) continued to be the most active code on May 14 with 12 million shares traded, surging 6.7 percent to end at 8,000 VND a share.
On the Hanoi Stock Exchange, the HNX-Index also rose 3.58 percent to stand at 71.87 points while the HNX30 jumped 5.24 percent to 139.39 points.
Trading declined from May 13, however, as both market volume and value fell 10 percent, totaling nearly 55 million shares worth 425 billion VND (20.1 million USD).
Sai Gon-Ha Noi Bank (SHB) was the most heavily-trade stock on the northern bourse on trades of 6.1 million shares, climbing 3.7 percent to close at 8,500 VND a share.
Foreign investors continued to collect local shares, with their net buy value reaching nearly 250 billion VND (11.9 million USD) in shares on the two bourses. Their purchases focused on large-cap stocks such as Hoa Phat Group (HPG), Vietcombank (VCB), Tan Tao Investment Industry Corp (ITA) on the HCM City market and Kim Long Securities Co (KLS) and PetroVietnam Technical Services Corp (PVS).-VNA
The market plunged to a four-month low with many blue chips, including FPT Corp (FPT), Hoang Anh Gia Lai Group (HAG) and Saigon Securities Inc (SSI), shedding around 20 percent in the first two weeks of May.
Many investors rushed to buy cheap shares, pushing the VN-Index up 3.04 percent to close the May 14 session at 529.53 points.
On the Ho Chi Minh Stock Exchange, only one of the top 30 shares by market value and liquidity shed value, while 12 hit the ceiling price with the VN30-Index seen closing 3.88 percent higher at 581.83 points.
Market volume increased 10 percent over the previous session, totaling 108.3 million shares and fund certificates, worth nearly 1.47 trillion VND (69.7 million USD).
Real estate developer FLC Group (FLC) continued to be the most active code on May 14 with 12 million shares traded, surging 6.7 percent to end at 8,000 VND a share.
On the Hanoi Stock Exchange, the HNX-Index also rose 3.58 percent to stand at 71.87 points while the HNX30 jumped 5.24 percent to 139.39 points.
Trading declined from May 13, however, as both market volume and value fell 10 percent, totaling nearly 55 million shares worth 425 billion VND (20.1 million USD).
Sai Gon-Ha Noi Bank (SHB) was the most heavily-trade stock on the northern bourse on trades of 6.1 million shares, climbing 3.7 percent to close at 8,500 VND a share.
Foreign investors continued to collect local shares, with their net buy value reaching nearly 250 billion VND (11.9 million USD) in shares on the two bourses. Their purchases focused on large-cap stocks such as Hoa Phat Group (HPG), Vietcombank (VCB), Tan Tao Investment Industry Corp (ITA) on the HCM City market and Kim Long Securities Co (KLS) and PetroVietnam Technical Services Corp (PVS).-VNA
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