|An investor looks at a screen which shows a bond auction result at the Ha Noi Stock Exchange. — VNS Photo Thai Ha
HA NOI (VNS) — Shares rebounded yesterday on both stock exchanges, ending a six-day losing streak, propped up by foreign buys.
On the HCM Stock Exchange, the VN-Index added 1.09 per cent to close the session at 551.13 points with the advancers outnumbering the decliners by 159-62.
Blue chips also recovered, which was evidenced by a 0.58 per cent rise by the VN30, which tracks the top 30 shares by market value and liquidity in HCM City's market. The VN30 ended at 579.97 points.
Gainers included VinGroup (VIC), PetroVietnam Drilling and Wells Service Corp (PVD), Phu My Fertiliser (DPM), Bao Viet Holdings (BVH), Eximbank (EIB) and FLC Group (FLC).
FLC also concluded yesterday as the most active stock, trading 15 million shares. Its price climbed 1.82 per cent to finish at VND11,200 (US$0.52) a share.
According to many stock analysts, the recent downtrend was mainly attributed to capital withdrawals by foreign investors. Thus, their return as net buyers yesterday on the two exchanges after a long net selling stage supported domestic investors' psychology.
"The market sentiment also improved following good economic news concerning the national economy, as well as growth of global markets," an analyst said on the financial website vietstock.vn.
However, lingering caution pushed liquidity down. The market volume declined 23 per cent from Monday, totaling 83.6 million shares, while the value of trades dropped 40 per cent to reach almost VND1.32 trilion ($61.7 million).
On the Ha Noi Stock Exchange, the HNX-Index also advanced for the first time in seven days, closing up 0.84 per cent to end at 82.27 points.
Market conditions were positive with 138 stocks rising, 56 falling and 168 remaining still.
Liquidity also drained here with the trading value decreasing 52 per cent against Monday, reaching VND452.4 billion ($21.1 million) while the market volume dropped just 9 per cent to more than 38 million shares.
KLF Joint Venture Global Investment Co (KLF) was again the leading share here with more than 4 million shares traded, rising 1 per cent to settle at VND10,100 a share.
Foreign investors were net buyers in terms of volume yesterday in HCM City with more than 1.4 million shares, but as their buys focused on small-and mid-cap shares, they were still net buyers by value worth VND6.7 billion ($31,300). This number represented a decrease of over 96 per cent in value compared with Monday's level.
They returned as net buyers in Ha Noi, responsible for a net buy value of VND8.14 billion ($380,400). — VNS