Stocks’ U-turn lifts market

February 23, 2011 | 15:00

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Vietnam’s stock market slightly rebounded today after tumbling in the two first sessions of the week.

Stocks advanced, with 173 up and 34 hitting the ceiling on the Ho Chi Minh Stock Exchange (HoSE), while 218 stocks climbing with 12 hit ceiling on Hanoi Stock Exchange (HNX).

The decliners reduced to 49 and 82 on the two bourses respectively.

The VN-Index ended at 470.67 points, up 0.65 points or 0.14 per cent, while the HNX-Index raised 1.49 points, or 1.56 per cent, to 96.95 points.

On the southern bourse, Vietinbank (CTG) and Eximbank (EIB) added 2.97 per cent and 3.47 per cent respectively. Sacombank (STB) was up 0.7 per cent.

Hoang Anh Gia Lai Group (HAG) advanced 2.02 per cent, while PetroVietnam Fertilisers (DPM) up 2.45 per cent.

On another move, Bao Viet Holding (BVH), Masan Group (MSN) and PetroVietnam Finance (PVF) sharply skidded lowering the rise momentum on the index. Among them, BVH hit floor for the third straight sessions to VND82,000.

Despite the market recovery, liquidity reduced 25.81 per cent to 36.1 million shares, with value was at just VND787.31 billion ($38 million).

Foreigners still kept cautious when net selling VND26 billion ($1.84 million) worth of shares. The net selling value, however, was significant down from VND101 billion ($4.8 million) yesterday.

On the Hanoi exchange, major stocks largely bounded back, with PetroVietnam Services (PVS) and Ocean Holding (OCH) rising.

Asia Commercial Bank (ACB) added 1.36 per cent, while Habubank (HBB) was up 1.01 per cent.

Foreign investors slightly net bought when buying 491,800 units and selling 464,000.

Volume stood at 32.84 million shares worth VND513.15 billion ($24.8 million).

By Hai Linh

vir.com.vn

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