Shares rose for a second day on the HCM Stock Exchange on December 8, propped up by recovery of large-cap shares, while continuous foreign sells keep threatening market stability.
Investors trace market swings at Bao Viet Securities’ trading floor (Photo: VNA)
Hanoi (VNA) - Shares rose for asecond day on the HCM Stock Exchange on December 8, propped up by recovery oflarge-cap shares, while continuous foreign sells keep threatening marketstability.
The VN-Index, a measure of 320 stocks on thesouthern bourse, was up 0.8 percent to close at 658.9 points. The gauge was up0.3 percent on December 7.
But the HNX-Index, measuring 375 stocks on the HanoiStock Exchange, erased the gain made on December 7, inching down 0.1 percent to79.4 points.
Large-cap stocks were on the positive side.
Thelargest listed stock Vinamilk (VNM) recouped 2 percent on the day despite heavyselling by foreign traders, settling at 135,000 VND (5.95 USD) per share. VNMlost 2 percent in the last two sessions.
Other gainers included Sacombank (STB), whichhit the daily limit of 7 percent rise on the HCM City market, Vietcombank(VCB), BIDV (BID), Masan Group (MSN), steelmakers Hoa Phat Group (HPG) and Hoa SenGroup (HSG), Sai Gon Securities Inc (SSI), software producer FPT Corp (FPT) andMobile World Group (MWG).
Newly-listed brewery giant Sabeco (SAB) addedanother 7 percent in price to close at 151,000 VND per share. SAB price hasincreased 37 percent since its debut on December 6.
Continuous sells by foreign investors,meanwhile, continued to pose a threat to the market prospect. Foreign investors were net sellers on the HCMCity’s exchange yesterday, offloading shares for a net value of 193 billion VND(8.6 million USD). This is their sixth consecutive net selling day with a totalvalue of 811 billion VND.
However, there were net buyers for a third dayon the Hanoi market, picking up shares worth a small value of 6 billion VND.
Liquidity decreased with nearly 175 millionshares worth a combined 2.8 trillion VND (123.7 million USD) traded in the twomarkets, down 5.9 percent in volume and 15.2 percent in value compared to levels made on December 7.-VNA
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Investors trace market swings at Bao Viet Securities’ trading floor (Photo: VNA) 
