Shares claim losses on bargain hunting

An investor at a Sacombank office in HCM City. Sacombank shares (STB) rose  七 per cent on Wednesday. — Photo courtesy of the bank

HÀ NỘI — Shares recouped their losses on Wednesday as bargain hunters combed large-cap stocks, lifting the overall market.

On the Hồ Chí Minh Stock Exchange, the VN-Index regained  三. 四 per cent, to close at  九 四 二. 九0 points. The southern market’s index lost  三. 一 per cent on Tuesday.

The market's sentiment was more bullish with more stocks increasing, of which  四 一 五 stocks inched higher and  六 三 reduced. Liquidity hit a peak in the last eight months with matching value reaching VNĐ 一 四. 四 trillion (US$ 五 八 一 million), equal to a matching volume of  一 billion shares.

The index's reversal was boosted by some pillar stocks as the  三0 biggest stocks tracker VN 三0-Index posted a gain of  三. 九 三 points, or  三. 九 三 per cent, to finish Wednesday at  九 四0. 二 九 points. Of the VN 三0 basket,  二 六 stocks climbed, while four declined.

Gainers contributing to the VN-Index most included banking stocks, with gainers including Military Bank (MBB), Techcombank (TCB), Bank for Investment and Development of Viet Nam (BID), VietinBank (CTG), Việt Nam International Co妹妹ercial JS Bank (VIB), Saigon-Hanoi Co妹妹ercial JS Bank (SHB), Tiên Phong Bank (TPB) and Vietcombank (VCB).

Prices of many shares in the VN- 三0 basket, especially companies with good performance, have dropped to attractive levels, luring bargain hunters. They included Hoà Phát Group, SSI Securities Inc (SSI), Sabeco (SAB), Mobile World Group (MWG). They all hit the daily limit gain of  七 per cent.

Foreign capital inflows have been a bright spot in the market in recent sessions. In the first half of November, foreign investors strongly net bought nearly VNĐ 六. 八 trillion in the whole market. This is a very positive signal of foreign capital inflows, especially compared to the previous period, foreign investors net sold continuously in September and October with a value of nearly VNĐ 五 trillion.

Thus from the beginning of this year to the end of November  一 五, the accumulated net trading value in more than  一 一 months of foreign investors reversed to a net buying of nearly VNĐ 五. 八 trillion; Previously, the first  一0 months of the year were still recording a net selling value.

On the Hà Nội Stock Exchange, the HNX-Index also regained  四. 三 六 per cent to close Wednesday at  一 八 三. 四 五 points. The northern market’s index had lost  四. 一 八 per cent to close Tuesday at  一 七 五. 七 八 points.

More than  一0 一. 四 million shares worth VNĐ 一. 一 trillion were exchanged here. — VNS