Local shares rebound slightly

Investors watch share prices on electronic boards at ACB Securities Co. — VNS Photo Việt Thanh

HÀ NỘI – Shares rebounded on Wednesday after three consecutive declining sessions but the recovery was fragile on modest liquidity.

The VN-Index on the HCM Stock Exchange recouped 0. 五 per cent to close at  七 七 一. 三 points. The southern index had dropped  一. 四 per cent in the last three sessions.

Major large-cap stocks rescued the market, with earners including PV Gas (GAS), up  三. 三 per cent; brewery Sabeco (SAB) up  二. 七 per cent; Vietinbank (CTG), up  一. 七 per cent; Vinamilk (VNM), up 0. 七 per cent; Petrolimex (PLX) and BIDV (BID), both up 0. 五 per cent.

On the negative side, many blue chips remained in a downward spiral such as Vietcombank (VCB), real estate developer VinGroup (VIC), insurer Bảo Việt Holdings (BVH), IT giant FPT Corp (FPT), steelmakers Hòa Phát Group (HPG) and Hoa Sen Group (HSG).

The VN 三0 which tracks the top  三0 shares by market value and liquidity was down 0. 五 per cent to end at  七 三 七. 七 七 points.

“The market returned to the short-term supportive level of  七 七0 points but the uptrend was not sustainable due to low existing liquidity and weak market cash flow which mainly channeled into the main stock groups,” market analysts at BIDV Securities Co wrote in yesterday’s report.

Almost  二 三 七 million shares worth VNĐ 四. 四 trillion (roughly US$ 一 九 四 million) were traded in the southern market, nearly unchanged compared to the previous session.

Hoàng Anh Gia Lai Co (HAG) and Tân Tạo Investment Industry Corp (ITA) recovered after a slump on Tuesday following the news that these three shares will be removed from the VN 三0 on July  二 四. HAG inched up 0. 一 per cent while ITA rose 0. 九 per cent.

On the Hà Nội Stock Exchange, the HNX-Index was up 0. 二 一 per cent at  九 八. 八 一 points. The northern market index lost  二. 二 per cent in the last three sessions.

Liquidity remained modest with  六 四. 六 million shares worth VNĐ 五 六 一 billion traded in the northern exchange.

Foreign traders ended as net sellers for total net value of VNĐ 三 六 billion on the two bourses. They were net buyers for VNĐ 八 六 billion on Tuesday. – VNS