Indexes rebound on low volume

The VN-Index gained 0.74 per cent to close yesterday session at 457.7 points.

Blue chips had an impact, with Bao Viet Holding (BVH) up 4.20 per cent, VietinBank (CTG) 0.53 per cent, the Corporation for Financing and Promoting Technology (FPT) 1.40 per cent, Hoa Sen Group (HSG) 0.1 per cent and the most daily active stock, Ocean Group (OGC), 2.03 per cent, despite a meagre volume of 1.2 million shares. 

Meanwhile, the trading volume of the market stayed low at 24.2 million shares worth VND637.1 billion (US$32.7 million). 

BVH was the highlight yesterday. Foreigners bought 151,890 BVH shares, accounting for 85 per cent of the share’s trading. 

"The activeness of this high-portfolio stock stimulated trading with other big stocks, contributing to simultaneous gains of blue chips," said HCM City broker Nguyen Thanh Hai. 

"This means capital flows are focusing on blue chips." 

The HNX-Index on the Ha Noi Stock Exchange inched up 0.48 per cent to 120.39 points, on a total volume of 16.9 million shares. 

Trading remained lacklustre with only VND370.1 billion ($18.9 million) changing hands. PetroVietnam Construction (PVX) saw the biggest volume traded, with 2.05 million shares. 

The Government late Tuesday asked the State Bank to draw up a plan for commercial banks that would tighten money circulation, which would help ease inflation pressure and stabilise the economy by the end of the year.

VNS