Stocks rally from precipitous drop

Vietnam's stock market revived on September 10 after tumbling on a large scale on previous day.

The VN-Index on the Hochiminh Stock Exchange managed to add 0.3 percent to close at 628.80 points. Trading value declined by half compared with that of September 9 session to reach 2.45 trillion VND (115.5 million USD) on a volume of 114.6 million shares.

The VN30 Index also pared earlier losses to rise by 0.27 percent, ending at 666.42 points. Among the 30 blue chips tracked by the index, exactly 15 posted gains while eight tumbled.

Realty stocks Tan Tao (ITA) and FLC Group (FLC) were the most actively traded, with 14.2 million ITA and 12.5 million FLC units changing hands.

On the Hanoi Stock Exchange, the HNX-Index reversed September 9 losses and gained 1.69 percent to stand at 87.86 points. Transaction value reached 1.13 trillion VND (53.3 million USD) and volume reached nearly 86 million shares.

The HNX30 Index, tracking the bourse's leading shares in terms of capitalisation and liquidity, also rose by two percent to finish at 180.29 points.

PetroVietnam Construction (PVX) was the most active stock with 15.7 million shares traded, in spite of its loss of 44 billion VND (2 million USD) in the first half which an audit has exposed.

Contrary to what happened in the previous session, domestic speculators took advantage of low prices to buy shares while foreign investors sold a net of 143.5 billion VND (6.7 million USD).

Shares most unloaded included property developers Kinh Bac (KBC) and ITA, Kinh Do Confectionery (KDC), Sai Gon Securities Inc (SSI) and PetroVietnam General Services (PET), as well as PetroVietnam Technical Services (PVS) and Lam Thao Fertilisers and Chemicals (LAS).-VNA

Source: Vietnamplus

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