Shares bounced back on December 14 as investors showed better confidence and tried to scoop up speculative stocks that were hit by strong selling (Photo: VNA) Hanoi (VNA) – Shares bounced back on December 14 as investors showed better confidence and tried to scoop up speculative stocks that were hit by strong selling.
The benchmark VN Index on the HCM Stock Exchange rose 1.6 percent to close at 665.14 points, ending a two-day decline of 1.3 percent.
The HNX Index on the Hanoi Stock Exchange gained 0.9 percent to end at 78.57 points. The northern market index had fallen 2.2 percent during the previous two sessions.
Market trading liquidity increased from the previous session with more than 257.7 million shares being traded, worth 2.74 trillion VND (nearly 122 million USD).
The figures were up nearly 50 percent in trading volume and slightly up in trading value from those in December 13’s session.
Higher investor confidence helped large-cap stocks rebound from their losing streak.
Among those stocks, private equity firm Masan Group (MSN) rose 1.8 percent, property developer VinGroup JSC (VIC) was up 1.1 percent, Bank for Investment and Development of Vietnam (BID) added 6.3 percent and Vietcombank (VCB) advanced 1.2 percent.
“Investors mostly have no worries before the US central bank concludes its meeting later on December 14 as the bank is likely to make the first rate hike since December 2015,” Bao Viet Securities Corp (BVSC) said in a note.
Investors sought investments in local stocks as they prepared for the rate increases for a long time and expect the US economy to achieve good growth in the future, BVSC said.
“The coming US rate increase will not have bid effects on the global stock markets and Vietnam’s since fears over the event will be cleared from investors’ minds and make them more confident.”-VNA
VNA
