Shares rallied as trading values hit new levels on December 12, after strong selling pressure at most large-caps sent the local market back to the negative territory during the previous session.
Trading value on the Ho Chi Minh City Stock Exchange jumped 71.4 percent compared to the December 11 session, reaching 2.44 trillion VND (115 million USD), although the volume of trades reached only 80.16 million shares, no higher than previous sessions.
The dramatic increase in trading was mainly caused by transactions on Vinamilk (VNM) shares, which saw more than 10 million units exchanged through the negotiation method at its ceiling price, totalling 1.5 trillion VND (70.7 million USD).
However, VNM ended the session 0.7 percent lower to 140,000 VND (6.6 USD) per share.
Also, the VN-Index gained 0.3 percent to 506.92 points, with advancers outnumbering decliners by 129-71.
Meanwhile, blue chips tracked by the VN30 performed well, lifting the index 0.3 percent to 567.40 points. Also, only five of the 30 stocks retreated, while private equity group Masan (MSN) was still the backbone for the market, adding 1.8 percent.
On the Hanoi Stock Exchange, the HNX-Index enjoyed a 0.6 percent rally to 65.97 points. The HNXFF-Index also rose 0.7 percent to 66.12 points.
Market value and volume reached 293 billion VND (13.8 million USD) and over 37.8 million shares.
Large-cap stocks in Hanoi helped the HNX30 gain 1 percent to finish at 124.76 points, and foreign investors bought a net of 52.5 billion VND (2.5 million USD) yesterday.
Trading faced hard times during most of yesterday's session, but a low price range formed on Wednesday, stimulating investor appetites.
However, BIDV Securities Co analyst Tran Thang Long remained cautious. "Although indexes rebounded, the higher trading value was only due to activities placed on a single stock, while trading volume actually declined," he said.
"Investors should then offload some shares to cash in," he added.-VNA
Trading value on the Ho Chi Minh City Stock Exchange jumped 71.4 percent compared to the December 11 session, reaching 2.44 trillion VND (115 million USD), although the volume of trades reached only 80.16 million shares, no higher than previous sessions.
The dramatic increase in trading was mainly caused by transactions on Vinamilk (VNM) shares, which saw more than 10 million units exchanged through the negotiation method at its ceiling price, totalling 1.5 trillion VND (70.7 million USD).
However, VNM ended the session 0.7 percent lower to 140,000 VND (6.6 USD) per share.
Also, the VN-Index gained 0.3 percent to 506.92 points, with advancers outnumbering decliners by 129-71.
Meanwhile, blue chips tracked by the VN30 performed well, lifting the index 0.3 percent to 567.40 points. Also, only five of the 30 stocks retreated, while private equity group Masan (MSN) was still the backbone for the market, adding 1.8 percent.
On the Hanoi Stock Exchange, the HNX-Index enjoyed a 0.6 percent rally to 65.97 points. The HNXFF-Index also rose 0.7 percent to 66.12 points.
Market value and volume reached 293 billion VND (13.8 million USD) and over 37.8 million shares.
Large-cap stocks in Hanoi helped the HNX30 gain 1 percent to finish at 124.76 points, and foreign investors bought a net of 52.5 billion VND (2.5 million USD) yesterday.
Trading faced hard times during most of yesterday's session, but a low price range formed on Wednesday, stimulating investor appetites.
However, BIDV Securities Co analyst Tran Thang Long remained cautious. "Although indexes rebounded, the higher trading value was only due to activities placed on a single stock, while trading volume actually declined," he said.
"Investors should then offload some shares to cash in," he added.-VNA
