Shares rebound but caution remains

Tuesday, Oct 16, 2018 12:30

Employees monitor stock trades at the secondary securities trading floor of Hà Nội Securities Trading Centre (HASTC). — VNA/VNS Photo Huy Hùng

Vietnamese shares rebounded on Tuesday morning but investors remained cautious towards the current trading outlook.

The benchmark VN-Index on the HCM Stock Exchange was up 0.64 per cent to close at 957.75 points.

The southern market index plunged 1.90 per cent to close at 951.64 points on Monday.

The HNX Index on the Ha Noi Stock Exchange increased by 0.63 per cent to end at 108.35 points.

The northern market index lost 1.90 per cent to end at 107.67 points on Monday.

More than 100.9 million shares were traded on the two local exchanges, worth VND1.8 trillion (US$76.3 million).

Market sentiment remained poor and investors were cautious after the stock market was rocked by a global sell-off last Thursday.

Large-cap stocks recovered with the blue chip VN30 Index gained 0.41 per cent to 932.38 points.

The indices were strongly supported by pillar stocks like Viet Nam Joint Stock Bank of Investment and Development (BID), Masan Group (MSN), Military Bank (MBB), Vinhomes (VHM) and budget carrier Vietjet (VJC).

Oil-gas stocks performed well, with gainers PetroVietnam Drilling & Well Services Corporation (PVD), PetroVietnam Technical Services Corporation (PVS), Viet Nam National Petroleum Group (PLX) and PetroVietnam Gas JSC (GAS).

On a sector basis, 15 of the 20 sectors saw stocks climbing, including financial-banking, petroleum, food and beverage, and retail.

The afternoon trading session starts at 1pm. — VNS

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