Shares recover all losses, liquidity drops sharply

Wednesday, Mar 27, 2024 06:56

Workers collecting rubber latex at a plantation of Vietnam Rubber Group in Gia Lai Province. The company's shares soared 6.3 per cent on Tuesday, leading the market's uptrend. — VNA/VNS Photo

The domestic stock market finished higher on Tuesday, recouping all losses from the previous session, while foreign investors net sold for the tenth straight day.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) increased 14.35 points, or 1.13 per cent, to 1,282.21 points. It had lost nearly 14 points on Monday as investors took profits from the recent rallies.

More than 230 ticker symbols traded higher on the southern bourse, while 99 stocks ticked down. However, liquidity dropped sharply from the previous session as the trading value fell 25 per cent to nearly VNĐ22 trillion (US$930.3 million).

The VN30-Index, tracking the 30 biggest stocks in terms of market capitalisation on HoSE, climbed 16.23 points, to 1.28 per cent, to close the trading day at 1,286.23 points. In the VN30 basket, 26 stocks edged up, two declined and two ended flat.

Hundreds of thousands of investors with accounts at VNDirect Securities Corporation were still unable to place orders while the market soared back.

The securities firm has announced that they are working to restore their system after two days of continuous processing by their technology team. However, due to the large amount of data, the system is taking longer than expected. As a result, both the VNDirect website and application remained inaccessible at the end of the trading session.

Lifting the market's rally was Vietnam Rubber Group (GVR). Shares of the rubber producer jumped nearly 6.3 per cent after opening the week with a loss of more than 4.06 per cent.

Many banking stocks also witnessed strong recoveries on Tuesday, such as VPBank (VPB) up 3.7 per cent, Techcombank (TCB) surged 2.57 per cent, Vietcombank (VCB) rose 0.63 per cent, MBBank (MBB) was up 2.23 per cent and Vietinbank (CTG) jumped 1.44 per cent.

Also supporting the bullish sentiment, shares of many steel producers performed well. Particularly, Hòa Phát Group (HPG), Hoa Sen Group (HSG) and Nam Kim Group (NKG) all advanced at least 1.16 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also rebounded to 242.03 points, up 1.22 points, or 0.51 per cent. Nearly 87.2 million shares were traded on the northern bourse, worth over VNĐ1.75 trillion.

Meanwhile, foreign investors extended their net selling activities for ten days in a row. They net sold VNĐ175.5 billion on HoSE and VNĐ7 billion on HNX. — VNS

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