Market bounces back in style

Blue-chips led the gainers, as several major stocks had fallen to attractive price areas.

Among them, real estate shares largely bounded back after massively tumbling yesterday. Hoang Anh Gia Lai (HAG) hit the ceiling to VND23,000, becoming the second-active stock on Ho Chi Minh Stock Exchange (HoSE) with 1.4 million shares matched.

Tan Tao Investment Industry Corp. (ITA), Vincom Corp. (VIC), Licogi 16 (LCG) and Devlopment Investment Construction (DIG) sharply rose. Meanwhile, Song Da Urban & Industrial Zone Investment and Development (SJS) and Ocean Group (OCG) significantly added.

Of the same sectors, several speculative shares also rallied, including PetroVietnam-Idico Long Son Industrial Park Investment (PXL) and Becamex Infrastructure Development (IJC) both hitting the ceiling, Hoang Quan Consulting- Trading-Service Real Estate Corp (HQC) advancing 2.74 per cent.

The financial sector followed the real estate sector with the strong rebounds of Saigon Securities Inc. (SSI), Sacom Development and Investment Corp. (SAM), Sacombank Securities (SBS), BIDV Insurance Corp (BIC), along with the slight increases of most banking shares.

Major stocks like FPT Corp. (FPT), Hoa Phat Group (HPG) just modestly climbed. Kinh Do Corp. (KDC) and Masan Group (MSN) even lost.

Up to half the bourse ended lower on the southern bourse, where 159 stocks advanced and 75 declined. The VN-Index gained 3 points or 0.78 per cent to 390.89 points.

Liquidity reduced on the fall of put-through volumes, standing at 33 million shares worth VND711 billion ($34.3 million).

Sacombank (STB) outperformed the market with 1.6 million shares matched. The bank had previously said it would start buyback shares in today’s session. The put-through volume of the shares was low at some hundreds of thousand units.

Securities company shares rallied on the Hanoi Stock Exchange (HNX). Large demands for those shares strongly pushed up driving stocks VNDirect Securities (VND), Kim Long Securities (KLS) and even small-cap and mid-cap ones like Au Viet Securities (AVS), Orient Securities (ORS), Wall Street Securities Company (WSS) and PetroVietnam Securities Inc. (PSI).

As many as 179 stocks advanced, among them 74 stocks hitting the ceiling. The benchmark HNX-Index was up 1.08 points or 1.75 per cent to close at 64.14 points.
Total volume kept modest at 33 million shares worth VND323.6 billion ($15.6 million).