Investors at Bao Viet Securities Company. (Photo: VNA) Hanoi (VNS/VNA) -Vietnamese shares recovered on March 6 as blue chips performed well onbottom-fishing following the previous sharp falls.
The benchmark VN-Index onthe HCM Stock Exchange gained 2.45 percent to close at 1,120.29 points,recouping almost all of its loss of 2.47 percent made on March 5.
The minor HNX Indexadvanced 1.45 percent to end at 127.33 points. The northern market indexdropped 2.14 percent on March 5.
The UPCOM Index on theUnlisted Public Company Market (UPCoM) extended growth for a third consecutiveday. It rose 0.95 percent to 61.01 points, totalling a three-day increase of 2 percent.
More than 322.4 millionshares were traded on the Vietnamese stock market, worth 8.85 trillion VND (393.3million USD).
Trading liquidity fell 11.4percent in volume and 23 percent in value compared to the previous session.
On the three stock markets,the market breadth was positive with 353 gaining stocks against 277 decliningones, while 165 other shares ended flat.
Leading stocks in thebanking, securities and real estate sectors enjoyed a strong rebound after theytumbled in the previous session due to last-minute selling.
The banking, securities andreal estate sector indices jumped between 3.8 percent and 5.1 percent, data onvietstock.vn showed.
Gainers among the large-capfirms in those industries included Vincom Retail (VRE), Vietcombank (VCB),Vietinbank (CTG), Bank for Investment and Development of Viet Nam (BID) andPetroVietnam Gas (GAS) and Saigon Securities Inc (SSI).
VRE, SSI and BID hit theirintraday rising band of 6.8-7 percent, while VCB, CTG and GAS jumped at least4.5 percent.
Other industries thatposted good increases in share prices included agriculture, constructionmaterial production and building business.
Of those stocks, Hoang AnhGia Lai Group (HAG) and its agriculture unit HAGL Agrico (HNG) traded at theintraday increasing band of 6.9-7 percent to boost the agriculture industryindex up 3.8 percent.
On UPCoM, PetroVietnamPower Corporation (PV Power) started trading 467.8 million shares with code POWat the staring price of 14,900 VND per share. The firm’s shares soared 19.5 percentto close at 17,800 VND per share.
According to Bao VietSecurities Company (BVSC), positive movement of the world stocks and oil pricesprovided the main push for Vietnamese stocks on March 6.
Global stock marketsrebounded after fears about the US-led trade war were temporarily allayed. “Atrade war can hardly occur but remains a risk that needs close monitoring inthe near future,” BVSC said in its report.
March 6’s gains helpedallay investors’ worries after leading stocks were strongly sold in theAt-the-Close (ATC) period on March 5, the brokerage firm said.-VNA
VNA
