Shares bounce back nationwide

The market managed to reverse the downward trend on March 5, finishing higher on both the national stock exchanges.

On the Ho Chi Minh City Exchange, the Vn-Index gained 4.97 points, or as much as 0.87 percent, to end at 574.94 points.

However, the liquidity eased over previous sessions as the investors adopted a more cautious stance after losses on March 3-4.

With nearly 106 million shares changing hands, the total trading value reached 1.78 trillion VND (84.76 million USD).

With gains reported in the share prices of 23 blue chips, the VN30-Index, tracking the southern bourse's 30 top shares, edged up 1.09 percent to finish at 645.76 points on March 5.

Only HCM City Infrastructure Investment Corporation (CII), Da Nang Rubber Corporation (DRC), and Ocean Group (OCG) posted losses on March 5.

The benchmark indices were supported by the Kinh Do Joint Stock Company (KDC) with a gain of 2,000 VND (9 cents) per share, Technology FPT Group (FPT), Masan Group (MSN) and real estate giant Vingroup (VIC) with a gain of 1,000 VND (4 cents) per share each, and PetroVietnam Drilling Corporation (PVD) that added 1,500 VND (7 cents) per share.

On the southern bourse, overall, gainers overwhelmed losers by 188-50.

Although the mood remained cautious, however, the buying power was strong enough for the market to regain and close on a high.

The northern bourse also witnessed a strong recovery on March 5, with the benchmark indices seeing gains of more than 1 percent.

The HNX-Index added 1.06 percent to end at 81.2 points, while the HNXFF-Index ended at 80.85 points, rising 1.16 percent over the trading session on March 4.

The HNX30-Index advanced 1.21 percent to reach 160.72 points.

The trading volume and value were reportedly lower than the previous sessions as both the sellers and buyers kept watch on the fluctuating market and more than 60 million shares valued at 571 billion VND (27.19 million USD) were traded.

Petrol and oil stocks posted an increase on March 5 after Rong Viet Securities forecast a bright prospect for the sector in 2014, given that PetroVietnam planned to increase its investment capital by 33 percent this year.

PetroVietnam Fertilisers and Chemicals Corporation (DPM), PetroVietnam Low Pressure Gas Distribution (PGD), PetroVietnam Drilling (PVD), and PetroVietnam Transportation Corporation (PVT) all closed in the black on March 5.

Source: Vietnamplus

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