|A production line of Vinamilk's longevity brand. The dairy producer's shares lost nearly 1.7 per cent on Thursday, which weighed on the market's sentiment. Photo vinamilk.com.vn|
HÀ NỘI — The stock market rebounded on Thursday, ending the recent losing streak of four consecutive days on improved risk appetite.
The benchmark VN-Index saw a gain of 3.73 points, or 0.37 per cent, to close the day at 1,022.61 points. The increase helped it to recoup the losses made in the last few days.
On the southern bourse, the breadth was positive as 181 stocks inched higher, while 131 went down. However, liquidity dropped compared to the previous session, of which the trading volume on HoSE declined by nearly 1 per cent to VNĐ13 trillion (US$54.5 million).
The 30 biggest stocks tracker VN30-Index on the HMC City's market also rose 5.24 points, or 0.51 per cent, to 1,038.34 points. In the VN30 basket, up to 20 ticker symbols finished higher yesterday, with two stocks hitting the maximum daily gain of 7 per cent, while only six went down.
The VN-Index's reversal was boosted by bargain-hunting force after the recent bearish trend.
Yesterday's recovery was led by key industries like banking, realty, and wholesale. Specifically, VPBank (VPB) was the biggest gainer on the trading day with a gain of 4.53 per cent.
Other big names contributing to the rebound were Vietcombank (VCB), Vinhomes (VHM), BIDV (BID), and Petrolimex (PLX). All the ticker symbols advanced in a range of 0.76-4 per cent.
The property developers Khang Dien House Trading and Investment JSC (KDH) and Phat Dat Real Estate Development JSC (PDR) even registered the HoSE's biggest intra-day gain of 7 per cent.
Lingering selling force, however, curbed the rallies as some large-cap stocks witnessed great losses such as Vinamilk (VNM) down 1.66 per cent, PV Gas (GAS), down 2.22 per cent, and Vietnam Airlines (HVN) lost more than 5.6 per cent.
The market's benchmark also lost support from the foreign force as international investors ended the long streak of net buying on the southern exchange. Accordingly, they net sold nearly VNĐ2.5 trillion on HoSE.
On the northern bourse, Hà Nội Stock Exchange (HNX), the HNX-Index also bounced back, up 1.33 points to end Thursday at 205.79 points, equivalent to an increase of 0.65 per cent.
Nearly 62.2 million shares were traded on the bourse during the trading session, worth VNĐ971.02 billion.
Foreign investors still net bought VNĐ23.74 billion. VNS