Stocks rebound on soothing concern

Vietnam’s benchmark VN-Index snapped its seven-day losing streak to recover to above 390 points on November 16 as most blue-chip stocks rebounded, easing investors’ concern over further decline.

The gauge of 300 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange cut 0.99 percent, or 3.87 points, to close at 387.87 points.

On the benchmark, 159 stocks advanced, 75 retreated, while 71 stocks remained unchanged.

Trading on the city bourse fell by 12 percent in volume and 20 percent in value over the previous trading session, as around 33.2 million shares changed hands at a total value of VND711 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume with 1.63 million shares changing hands.

Hoang Anh Gia Lai Joint Stock Company (HAG) followed with 1.37 million shares traded.

Military Commercial Joint Stock Bank (MBB) came next with 963,200 shares.

Basa Joint Stock Company (BAS) revived 8.33 percent to finish at VND1,300.

Saigon Beverages Join Stock Company (TRI) recovered 5.26 percent to close at VND2,000.

Hoang Anh Gia Lai Joint Stock Company (HAG) capped its twelve-day losing streak, growing 5 percent to close at VND23,100.

SMC Investment Trading Joint Stock Company (SMC) contracted 16.67 percent to close at VND9,500.

Khang Dien Investment & Trading House Joint Stock Company (KDH), Ninh Hoa Sugar Joint Stock Company (NHS), and South Vietnam Container Shipping Joint Stock Company (VSG) all fell 5 percent to close at VND28,500, VND30,400, and VND1,900 respectively.

Viettronics Tan Binh Joint Stock Company (VTB) headed south for three days in a row, losing 4.94 percent to VND7,700.

Meanwhile, the Hanoi’s HNX-Index of the smaller bourse in the north advanced the second day, springing 1.71 percent, or 1.08 points, to close at 64.14 points. Around 33.18 million shares changed hands at a value of VND323.61 billion.

The UPCoM-Index of unlisted shares reversed 0.07 percent, or 0.2 points, to 29 points at 1:55 pm Vietnamese time. A total of 96,458 shares changed hands at a value of VND700 million.

By Thuy Doan

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