The mid-day drop turned out to be an opportunity for risk taking
investors, which boosted both markets in the afternoon of August 30, the
last trading of the week.
On the Ho Chi Minh Stock Exchange, the
VN-Index climbed 0.89 percent to close on 472.70 points before dropping
back to 462 points.
Blue chips bouncing back also helped to lift
the market. The VN30 tracking the 30 largest shares on the bourse closed
up 1.47 percent at 531.23 points.
Nearly 35.5 million shares worth
739.3 billion VND (35.2 million USD) changed hands by the end of the
session, down 10 percent in both market volume and value compared to the
previous session.
Property developer An Duong Thao Dien Co (HAR)
was still the most active on the day, trading 1.6 million shares, a loss
of 4.3 percent to 8,900 VND each.
On the Hanoi Stock Exchange, the
HNX-Index also increased from a three-month low to 61.19 points, up
1.38 percent over the previous session.
Trading improved on the
northern bourse with the market volume up by 30 percent to 17.2 million
shares while the value of trading climbed 20 percent to reach 137.5
billion VND (6.5 million USD).
Despite the day’s surprising rises,
many analysts believe the stock market is likely to fall in the medium
and long terms, weighed down by foreign investors selling for a
continuous period of time.
The foreign sector remained the net
sellers on the HCM City market on August 30, selling stock
worth 36 billion VND (1.7 million USD). It also sold nearly 200 billion
VND (9.5 million USD) worth of shares during the previous session.-VNA