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Local shares manage to recover slightly

Shares rebounded on July 19 after three consecutive declining sessions but the recovery was fragile on modest liquidity.
Local shares manage to recover slightly ảnh 1Investors follow the stock movements at the Hanoi Stock Exchange. (Photo: tbck.vn)

Hanoi (VNA)
- Shares rebounded on July19 after three consecutive declining sessions but the recovery was fragile onmodest liquidity.

The VN-Index on the HCM Stock Exchangerecouped 0.5 percent to close at 771.3 points. The southern index had dropped1.4 percent in the last three sessions.

Major large-cap stocks rescued the market,with earners including PV Gas (GAS), up 3.3 percent; brewery Sabeco (SAB) up2.7 percent; Vietinbank (CTG), up 1.7 percent; Vinamilk (VNM), up 0.7 percent;Petrolimex (PLX) and BIDV (BID), both up 0.5 percent.

On the negative side, many blue chipsremained in a downward spiral such as Vietcombank (VCB), real estate developerVinGroup (VIC), insurer Bao Viet Holdings (BVH), IT giant FPT Corp (FPT),steelmakers Hoa Phat Group (HPG) and Hoa Sen Group (HSG).

The VN30 which tracks the top 30 shares bymarket value and liquidity was down 0.5 percent to end at 737.77 points.

“The market returned to the short-termsupportive level of 770 points but the uptrend was not sustainable due to lowexisting liquidity and weak market cash flow which mainly channeled into themain stock groups,” market analysts at BIDV Securities Co wrote in the July 19 report.

Almost 237 million shares worth 4.4trillion VND (roughly 194 million USD) were traded in the southern market,nearly unchanged compared to the previous session.

Hoang Anh Gia Lai Co (HAG) and Tân TạoInvestment Industry Corp (ITA) recovered after a slump on Tuesday following thenews that these three shares will be removed from the VN30 on July 24. HAGinched up 0.1 percent while ITA rose 0.9 percent.

On the Hanoi Stock Exchange, the HNX-Indexwas up 0.21 percent at 98.81 points. The northern market index lost 2.2 percentin the last three sessions.

Liquidity remained modest with 64.6 millionshares worth 561 billion VND traded in the northern exchange.

Foreign traders ended as net sellers fortotal net value of 36 billion VND on the two bourses. They were net buyers for 86billion VND on July 18.-VNA
VNA

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