An investor looks at a screen which shows a bond auction result at the Ha Noi Stock Exchange. Source: VNA
Shares rebounded on March 31 on both stock exchanges, ending a six-day losing streak, propped up by foreign buys.
On the Hochiminh Stock Exchange, the VN-Index added 1.09 percent to close the session at 551.13 points with the advancers outnumbering the decliners by 159-62.
Blue chips also recovered, which was evidenced by a 0.58 percent rise by the VN30, which tracks the top 30 shares by market value and liquidity in the southern market. The VN30 ended at 579.97 points.
According to many stock analysts, the recent downtrend was mainly attributed to capital withdrawals by foreign investors. Thus, their return as net buyers on March 31 on the two exchanges after a long net selling stage supported domestic investors’ psychology.
“The market sentiment also improved following good economic news concerning the national economy, as well as growth of global markets,” an analyst said on the financial website vietstock.vn.
However, lingering caution pushed liquidity down. The market volume declined 23 percent from the previous day, totaling 83.6 million shares, while the value of trades dropped 40 percent to reach almost 1.32 trilion VND (61.7 million USD).
On the Hanoi Stock Exchange, the HNX-Index also advanced for the first time in seven days, closing up 0.84 percent to end at 82.27 points.
Market conditions were positive with 138 stocks rising, 56 falling and 168 remaining still.
Liquidity also drained here with the trading value decreasing 52 percent against the previous day, reaching 452.4 billion VND (21.1 million USD) while the market volume dropped just 9 percent to more than 38 million shares.
Foreign investors were net buyers in terms of volume in HCM City with more than 1.4 million shares, but as their buys focused on small-and mid-cap shares, they were still net buyers by value worth 6.7 billion VND (31,300 USD). This number represented a decrease of over 96 percent in value compared with the previous session’s level.
They returned as net buyers in Hanoi, responsible for a net buy value of 8.14 billion VND (380,400 USD).-VNA
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