Stock market rebounds from previous sell-off session
The green colour spread on
the billboard on the Ho Chi Minh City Exchange, as the bourse's top 30
stocks by capitalisation and liquidity ended higher on February 12,
except Kinh Do (KDC), which closed at its reference price.
Those gains helped the VN30-Index rise by 1.66 percent to end the day at 637.79 points.
Also, Becamex IJC (IJC) increased by 700 VND (0.03 USD) per share on February 12 to its ceiling price of 11,500 VND (0.49 USD).
Many
blue chips posted huge gains on February 12. Insurance company Bao Viet
Group (BVH) rose 5 percent to 48,000 VND (2.2 USD) per share, Da Nang
Rubber Corporation (DRC) was up 4.8 percent to 45,700 VND (2.1 USD) per
share and technology giant FPT Group (FPT) earned 2,00 VND0 (0.095 USD)
per share to 57,000 VND (2.7 USD).
Overall on the southern bourse, 198 codes added value on February 12, while only 51 declined in value.
The VN-Index strongly gained on February 12, with a rise of 1.87 percent to 564.25 points.
About 126 million shares changed hands, with a high trading value of 2.14 trillion VND (101.9 million USD).
On
the Hanoi Exchange, liquidity remained high with a total of 66.5
million shares, with a total value of 632.5 billion VND (30.1 million
USD) traded.
The HNX-Index rose by 1.58 percent to end at 76.75
points, while the HNXFF-Index increased by 1.11 percent to close at
75.83 points.
Composed of the capital's top shares, the HNX30-Index earned 1.89 points to reach 150.28 points, a rise of 1.27 percent.
According
to FPT Securities, the purchasing power improved due to the
participation of foreign investors. Despite the blue chips' gains,
midcaps and penny groups remained in the spotlight on February 12,
especially for real estate stocks.
The government's boost to the
distribution of the 30 trillion VND (1.42 billion USD) support package
for the property market helped raise the shares of the real estate
sector.
FPT Securities said the market trend will be positive in the medium term, but in the short term fluctuations will occur.
The
BIDV Securities Company was optimistic about the market trend in the
long term. However, it forecast huge fluctuations during this month, and
expects the band for the VN-Index to be between 530-560 points.
The
Vietnam Investment Securities noted that midcap companies will rise to
be the market's spotlight and attract capital inflows.
The company also urged investors to pay attention to risks while taking advantage of opportunities.
Finally, net purchases by foreign investors on February 12 was worth 85 billion VND (4.04 million USD).-VNA