Stocks bounce back in style

More than half of the market, or 154 stocks, advanced on the Ho Chi Minh Stock Exchange (HoSE), compared with 75 declining and 71 unchanged.

Major stocks largely rose, led by Vinamilk (VNM) and Masan Group (MSN) adding VND2,000 each.

Saigon Securities Inc. (SSI) gained 2.45 per cent, Refrigeration Electrical Engineering Corp. (REE) 0.94 per cent, Vietcombank (VCB) 0.76 per cent and Eximbank (EIB) up 0.68 per cent.

Major production sector stocks including FPT Corp. (FPT), Hoang Anh Gia Lai (HAG), Kinh Do Corp. (KDC) and Phu Nhuan Jewelry (PNJ) largely gained 0.5-1.5 per cent. Dong Phu Rubber (DPR) added 0.94 per cent, while Hoa Binh Rubber (HRC) was up 0.84 per cent.

Licogi 16 (LCG), Ho Chi Minh City Infrastructure Investment JSC (CII) significantly rose.

Gold prices eased this morning to VND45.2 million per tael, which proved a major boost for the stock market.

The VN-Index, however, fell on strong selling pressures on Bao Viet Holdings (BVH) and Vincom Corp. (VIC). The benchmark closed at 385.96 points, down 1.74 points or 0.45 per cent.

VIC and ac City Development Share Holding Corp. (KBC) hit the floor. BVH along with several blue-chips like Hoa Phat Group (HPG), Sacombank (STB), PetroVietnam Finance (PVF) declined.

Trading volume reduced back to 27.13 million shares worth VND485.43 billion ($23.6 million), thanks to sudden reduce in put-through volume. Some 7.7 million shares worth VND153 billion ($7.4 million) were negotiated today.

The Hanoi Stock Exchange (HNX) maintained its rising trend since the session’s open. It gained 0.99 points or 1.51 per cent to 66.62 points.

Up to 183 stocks were up on the northern bourse, compared with 63 down and 140 unchanged.

Trading volume fell to 26.75 million shares worth VND264.32 billion ($12.8 million), of which put-through volume made up 3.5 million shares worth VND36.1 billion ($1.8 million).