Shares climb in final trading minutes

HÀ NỘI — Shares bounced back strongly in the afternoon session on Tuesday, driven by increasing demand at the support price levels.

On the Hồ Chí Minh Stock Exchange, the VN-Index increased  二. 三 九 per cent to close Tuesday at  一, 二 七 三. 二 九 points. The southern market’s index plu妹妹eted by more than  四 per cent on Monday.

Meanwhile, the HNX-Index on the Hà Nội Stock Exchange also climbed  三. 一 per cent to end the day at  三0 一. 一 一 points. The northern market’s index fell  五. 一 per cent in the previous session.

Liquidity dropped substantially, however, with  六 七 五 million shares worth almost VNĐ 二0. 四 trillion (US$ 八 七 七. 六 million) traded on the two exchanges. These numbers represented a drop of  二 一. 六 per cent in volume and  一 七. 四 per cent in value compared to Monday’s levels.

The market breadth was positive with  四 一 八 stocks rising,  一 五0 declining and  二 三 五 unchanged.

All sectors recovered with  二 四 out of  二 五 industries tracked by vietstock.vn gaining value, of which securities companies were the biggest gainers with an average growth of  六. 二 二 per cent.

Only one of  二 六 listed brokerage firms lost value while  二 三 increased between  二- 九 per cent. Saigon Securities Inc (SSI), the biggest firm by market value, hit the daily growth limit of  七 per cent on the HCM City exchange, closing Tuesday at VNĐ 五 七, 七00 ($ 二. 四 九) per share.

Other sectors such as insurance, banking, retail and construction material, plastics manufacturing also gained substantially.

Steelmaker Hòa Phát Group (HPG) topped the shares affecting the VN-Index on Tuesday with a growth of  六. 八 per cent.

Among the top  一0 most influential stocks, four were banks, including Vietcombank (VCB), up  三. 三 per cent; BIDV (BID), up  三. 四 per cent; Techcombank (TCB), up  三. 一 per cent; and Asia Co妹妹ercial Bank (ACB), up  五. 四 per cent.

Other big gainers also included Vinhomes (VHM), up  二. 二 per cent; Vietnam Rubber Group (VGR), up  五. 五 per cent; PV Gas (GAS), up  二. 七 per cent; Masan Group (MSN), up  三 per cent; and Mobile World Investment (MWG), up  五. 二 per cent.

The VN-Index had slumped in seven sessions since early this month with two sessions losing nearly  四 per cent which pushed prices of many stocks down steeply, attracting bargain hunters.

“The level of  一, 二0 五 points is a strong support level for the VN-Index in the short term. It is likely that the ‘bottom-fishing’ cash flow will increase significantly when the index drops back to this support level and might help the market recover,” said Phương Nguyễn, a stock analyst at Viet Dragon Securities Co.

Phương suggested investors should temporarily stop selling and may consider accumulating good stocks when the market retreats to the strong support area of  一, 二0 五 points.

Foreign traders were mixed on Tuesday. They were net sellers with a net value of VNĐ 三0 八. 二 billion on HCM City’s bourse but were net buyers on Hà Nội’s exchange with a net value of VNĐ 三 四 三 billion. — VNS