Hanoi (VNA) - Shares rebounded on December 7 onthe two exchanges after a two-day decline as investors took advantage ofbargains on attractive valuations. On the Ho Chi Minh Stock Exchange, the VN-Index bouncedbacked after falling below the short-term support level of 650 points in earlymorning trade, closing up 0.3 percent at 653.5 points. The gauge decreased by over 2 percent in the last twosessions. On the Hanoi Stock Exchange, the HNX-Index inched up just0.1 percent to end at 79.4 points. The Index slipped 2.3 percent in theprevious two trades. Market breadth was neutral with 207 stocks rising, 210declining and 278 closing flat. According to analysts at Investment Vietnam Securities Co,the VN-Index kept hold of 650 points but the selling pressure was unlikely tostop in the next session. The VN-Index lost a cumulative 4.4 percent in the past monthending December 6 while the HNX-Index slumped 2.2 percent during the sameperiod. The newly listed brewery giant Sabeco hit the daily limitrise of 7 percent on the HCM City’s bourse for the second time after its debuton December 6, closing at 141,200 VND (6.22 USD) per share. Habeco, the country’s second biggest local beer producer,also rose 12.4 percent to 116,400 VND a share on the Unlisted Public CompanyMarket (UPCoM). Many large-cap stocks recovered on December 7 after severalconsecutive falling sessions and supported the index, including real estategiant VinGroup (VIC), Vietcombank (VCB), insurer Bao Viet Holdings (BVH),Mobile World Group (MWG), steelmaker Hoa Sen Group (HSG) and HCM CityInfrastructure Investment Corp (CII), all among the top 30 largest shares bymarket capitalisation and liquidity on the main bourse in HCM City. Liquidity increased slightly with nearly 186 million sharesworth a total 3.3 trillion VND (145.4 million USD) traded in the two markets,up 6.7 percent in volume and 16.2 percent in value compared to the previous day’slevels. Foreign moves were mixed. They extended their net sellingstreak to five days in a row in the HCM City’s market, offloading shares wortha net value of 117 billion VND, down 27 percent from the previous day’s figure. They were net buyers on the Hanoi’s bourse, picking upshares worth net value of 16.6 billion VND. -VNA
Shares continued last week’s decline on Dec 5 on national stock exchanges as traders continued to sell riskier assets on fears of a further decline on the back of untamed selling by foreign traders.
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Illustrative image (Photo: VNA) 
