Shares recovered on April 11 after an unexpected steep plunge on April 10 afternoon thanks to blue chip rally.
On the HCM City Stock Exchange, the VN-Index recouped 1.52 percent to
close the April 11 session at 504.07 points while the VN30 tracking the
top 30 shares was also up 1.32 percent at 565.76 points.
According to stock analysts, slumps of many blue-chips on the previous
day made their prices attractive for those after earning prospects,
stimulating trading of these shares.
Insurer Bao Viet Holdings
(BVH) climbed 2 percent after hitting the floor price on the previous
day. Sacombank (STB) surged 6.5 percent while Vinamilk (VNM) regained
1.6 percent.
Other heavyweight shares including Masan Group (MSN), Hoa Phat Group (HPG) and Phu My Fertiliser (PVF) also increased.
Trading declined from the previous session, however, totaling 52
million shares, worth nearly 1.13 trillion VND (33 million USD),
changing hands.
Saigon Securities Inc (SSI) became the most
active code on trades of over 2.2 million shares by the end of the
session, but declined 1.1 percent to finish at 18,300 VND a share (0.87
USD).
The HNX-Index on the Hanoi Stock Exchange also grew 1.24
percent to 61.08 points whit trading value of over 289.8 VND billion
(13.8 million USD).
Advancers edged up decliners by 117-64, led by blue chips, helping sustain the market rise.
Petro Vietnam Construction (PVX) increased 2.2 percent while the real
estate company Sacomreal (SCR) and Sai Gon-Hanoi Bank (SHB) rose by
1.3-1.5 percent.
SHB was still the most active share with 8.5 million shares exchanged, finishing the session at 7,000 VND a share.
Foreign investors were still net sellers on both exchanges on April
11, responsible for a combined net sell of 66 billion VND (3.1 million
USD).-VNA