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Banking & Finance

Market reclaims morning losses

Released at: 17:32, 08/12/2015 Stock Market Watch

Market reclaims morning losses

Afternoon session on December starts with major fall before blue chips lead recovery.

by Hung Khanh

In the first 40 minutes of afternoon trade on December 8 the VN-Index continued the fall seen in the morning before rising sharply from 559.7 points to 572.05 points in a 30-minute period, then fluctuated around that mark until closing at 574.15 points, an increase of 10.53 points (1.87 per cent) against the day’s opening.

Blue chips had a strong influence on the market, with high liquidity.

BVH saw the higher rise among blue chips, increasing to its ceiling of 6.25 per cent to reach VND51,000 ($2.27) at closing. The insurance sector also saw two increasing large caps - BIC, which closed 5.82 per cent higher, and PGI, by 0.55 per cent.

Large caps VCB and VNM also brought the VN-Index into positive territory during the session. VCB maintained its momentum from the morning, closing at VND43,100 ($1.92), an increase of 5.64 per cent against the opening. VNM, meanwhile, saw a significant change in terms of liquidity and price compared to the last few days, with 867,200 shares changing hands and closing at VND125,000 ($5.56), 4.17 per cent higher.

Gas shares stayed in negative territory but showed signs of improvement, as GAS recovered from falling 2.03 per cent in the morning to close at just 0.25 per cent lower in the afternoon session. PGD and ASP closed at their opening price while CNG lost 1.49 per cent.

The VN30-Index finished the day with 130 shares increasing and 88 decreasing.

Liquidity in the afternoon session in both markets was relatively positive, with VND1.03 trillion ($45.83 million) changing hands, an increase of 37 per cent against yesterday afternoon.

The only negative feature of the market today was foreign investors being inactive, with net selling of VND187.98 billion ($8.36 million) on the HSX, almost double the figure from yesterday. The HNX also saw strong sales by foreign investors, with net selling of VND43.81 billion ($1.94 million).

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