Shares rebounded slightly in the August 9 session on the Ho Chi Minh City Stock Exchange. The VN-Index gained 0.5 percent to 500.62 points.

According to analysts, the index was testing July's peak of 500-505 points when it reached the level on August 7.

Despite an increase in trading value, liquidity was still low at just 565.6 billion VND (26.6 million USD) and 28.1 million shares.

The VN30, composed of the exchange's top 30 shares, rose 0.4 percent to 552.27 points. Blue chips were mixed, with 10 rising, nine retreating and 11 closing the day unchanged.

PetroVietnam Drilling Services Co ( PVD ) was the most notable stock during the August 9 trading, putting on 5.8 percent. This stock has been growing quite strongly for the past month.

In the first six months of this year, the company achieved 865 billion VND (40.8 million USD) in net profit, jumping 41.2 percent over the same period last year and completing 68.6 percent of the year's target.

By the end of the second quarter, the company's cash reached 2.3 trillion VND (108.4 million USD), more than doubling the figure at the beginning of this year.

On the Hanoi Stock Exchange, the HNX-Index failed to retain earlier gains to slide nearly 0.2 percent, reaching 61.70 points.

Blue chips dragged the HNX30 down 0.35 percent to 114.19 points.

With around 17.9 million shares changing hands, trading value totaled 167.3 billion VND (7.8 million USD).

Kim Long Securities Co (KLS) was the most active stock with more than 4.4 million shares changing hands and rising 2.5 percent.

As the northern market was still declining plus low liquidity, ACB Securities analyst Hoang Huy predicted a high possibility of a downtrend. "If shares can increase, the rally is not sustainable because trading value cannot improve."

Short-term investors could buy some shares that had been declining but limit the volumes, Huy said.-VNA