MARKET RECOVERS AS VN-INDEX HALTS DOWNWARD TREND

Shares rallied on Tuesday as the recovery of large-cap stocks helped the VN-Index regain 2.44 points after two sessions of falls, while liquidity dropped sharply.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 2.44 points, or 0.19 per cent, to close the trading session at 1,256.56 points.

The market's breadth was also positive as the number of gainers surpassed that of losers by 186 to 122. Liquidity on the southern bourse fell 32.3 per cent, down to VNĐ21.5 trillion (US$845 million), equivalent to a trading volume of 835 million shares.

The 30 biggest stocks tracker, the VN30-Index, fell slightly, lost 1.05 points or 0.08 per cent, down to 1,288.8. Fourteen ticker symbols in the VN30 basket inched down, while nine edged up and seven stocks ended flat.

Data compiled by the financial website vietstock.vn showed that Vincom Retail Joint Stock Company (VRE) was the biggest gainer on the market and led in terms of capitalisation. Shares of Vincom Retail hit a ceiling on Tuesday, rising 6.77 per cent, contributing more than 0.8 points to the VN-Index gain.

Other 'Vin Group' stocks also performed well on Tuesday. Notably, Vinhomes JSC (VHM) increased by 0.93 per cent and Vingroup Joint Stock Company (VIC) rose by 0.24 per cent.

Vietnam Airlines JSC (HVN) and Vietnam Rubber Group - Joint Stock Company (GVR) were also notable movers. Shares of the national airline rose by 3.98 per cent, while shares of the rubber producer also climbed by 1.82 per cent.

Limiting the rallies, some banking stocks still faced strong sell-offs, such as the Bank for Investment and Development of Vietnam (BID) which posted a decline of 1.78 per cent, the Southeast Asia Commercial Joint Stock Bank (SSB) down 6.42 per cent and Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) which lost 0.16 per cent.

It was followed by FPT Corporation (FPT) and Sabeco (SAB). Shares of the software producer and the food and beverage producer performed poorly on Tuesday, losing 1.59 per cent and 1.46 per cent respectively.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher on Thursday. It rose 0.19 per cent to 240.19 points.

During the session, more than VNĐ1 trillion worth of shares were traded, equivalent to a trading volume of over 51 million shares. But foreign investors extended their net selling spree, selling over VNĐ704 billion on the HoSE.

Source: VNS