Market bounces to end week smiling

VN-Index of Ho Chi Minh Stock Exchange (HoSE) jumped 6.2 points or 1.59 per cent to 395.48 points. The HNX-Index of Hanoi Stock Exchange (HNX), meanwhile, gained 1.29 points or 2.33 per cent to 56.71 points.

Matching value soared on the main bourse, reaching VND841.6 billion ($40.7 million). Particularly, put-through value sharply jumped to VND953.7 billion ($46.1 million). The HoSE had 101.3 million shares worth VND1.8 trillion ($86.9 million) traded.

Today was the day foreign exchange-traded funds finished periodically reviewing portfolios. Purchasing power was strong from the opening of the session, keeping both benchmarks in green rhythm throughout the session.

The foreigners bid and asked for shares at huge volumes. Vietcombank (VCB), Vietinbank (CTG), Bao Viet Holdings (BVH), PetroVietnam Low Pressure Gas Distribution (PGD) and some stocks which were added into the funds’ portfolios were strongly bought, hitting the ceiling with millions shares matched each.

In contrast, Kinh Do Corp. (KDC), Phu Nhuan Jewelry and stocks were excluded from the portfolios all hit the floor.

The foreigners bought 21.8 million shares and sold 19.6 million shares, making a net buying value of VND101.7 billion ($4.9 million).

Several other large-cap stocks rose in line with this exciting sentiment. More than half the bourse advanced, namely 163 stocks were up and 46 were down.

On HNX, even Asia Commercial Bank (ACB) hit the ceiling although the bank is involved in banker arrest scandals. More than 2 million shares were matched.

PetroVietnam Construction (PVX) also hit the ceiling after several falling sessions.

Advancers also overwhelmed decliners, with 148 stocks up and 51 down.

However, liquidity remained low on HNX, where 24.4 million shares worth VND192.5 billion ($9.2 million) were changed hands. Foreigners made a net buying worth just VND15 billion ($724,000) there.