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Shares advance, liquidity falls

Update: July, 18/2014 - 09:11

The VN-Index on the HCM City Stock Exchange added 0.12 per cent to 590.37 points while the HNX-Index on the northern bourse advanced 0.86 per cent to 80.85 points.— Photo hanoimoi

HA NOI (VNS) — Shares rose on both national stock exchanges yesterday on falling market liquidity, as investors were more cautious after Wednesday's sell-offs.

The VN-Index on the HCM City Stock Exchange added 0.12 per cent to 590.37 points while the HNX-Index on the northern bourse advanced 0.86 per cent to 80.85 points.

Trading slowed down yesterday, on high selling pressure after two bullish sessions.

The trading volume and value on the northern bourse decreased by 30 per cent and 36 per cent over previous trading respectively to 96 million shares and VND1.4 trillion ($66.7 million).

More than 41 million shares were traded on the northern bourse, worth VND541 billion ($25.7 million), falling respectively 40 per cent and 32 per cent over Wednesday.

The selling pressure even dragged down the VN-Index to 586 points in the afternoon session as the index did not receive as much support from market pillar Masan Group (MSN) as it did in the morning.

However, the index strongly rebounded when approaching the strong support band, when the market technically witnessed a recovery of buying activities, to close yesterday's session higher.

According to FPT Securities, the market was expected to be on an upward trend to regain its previous peak in March.

But yesterday's gains were reduced by large-cap stocks with the VN30-Index, composed of the southern bourse's largest stocks by capitalisation and liquidity, sliding 0.13 per cent to 636.3 points.

HCM City Infrastructure Investment Corporation (CII), Da Nang Rubber Corporation (DRC) and Hoa Phat Group (HPG) were among 12 gainers. — VNS

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