Cash will likely continue to be withdrawn from the market to meet the shopping needs as the Tet holidays draw near. — Photo vfpress.vn

Shares bounced back on Friday morning in both markets on the recovery of large-cap stocks, as investors bet on year-end earnings of companies.

The benchmark VN Index on the HCM Stock Exchange edged up 0.6 per cent to 686 points. The gauge had dropped 0.34 per cent in the last two trades.

On the Ha Noi Stock Exchange, the HNX Index recouped 0.7 per cent to end at 83.5 points. The northern market index had lost 1.3 per cent in the two previous sessions.

Overall, the market condition improved as 198 stocks rose, 160 declined and 346 remained unchanged.

Blue chips led the market recovery, with 22 of the top 30 largest shares by market capitalisation and liquidity on the HCM city bourse advancing; only eight tumbled.

Cash will likely continue to be withdrawn from the market to meet the shopping needs as the Tet holidays draw near. However, stocks of companies that promise positive 2016 earnings are on investors’ radar.

Following Circular 155, all listed companies now have to release their financial statements within 20 days after the last day of every quarter.

A total of 53.2 million shares worth VND1.24 trillion (US$55 million) were traded in the two markets.

The afternoon session starts at 1pm. — VNS