Shares bounced back on December 14 as investors showed better confidence and tried to scoop up speculative stocks that were hit by strong selling (Photo: VNA)Hanoi (VNA) – Shares bounced back on December 14 as investors showedbetter confidence and tried to scoop up speculative stocks that were hit bystrong selling.
The benchmark VN Index on the HCM Stock Exchange rose 1.6 percent to close at 665.14points, ending a two-day decline of 1.3 percent.
The HNX Index on the Hanoi Stock Exchange gained 0.9 percent to end at 78.57 points.The northern market index had fallen 2.2 percent during the previous twosessions.
Market trading liquidity increased from the previous session with more than257.7 million shares being traded, worth 2.74 trillion VND (nearly 122 millionUSD).
The figures were up nearly 50 percent in trading volume and slightly up intrading value from those in December 13’s session.
Higher investor confidence helped large-cap stocks rebound from their losingstreak.
Among those stocks, private equity firm Masan Group (MSN) rose 1.8 percent,property developer VinGroup JSC (VIC) was up 1.1 percent, Bank for Investmentand Development of Vietnam (BID) added 6.3 percent and Vietcombank (VCB) advanced1.2 percent.
“Investors mostly have no worries before the US central bank concludes itsmeeting later on December 14 as the bank is likely to make the first rate hikesince December 2015,” Bao Viet Securities Corp (BVSC) said in a note.
Investors sought investments in local stocks as they prepared for the rateincreases for a long time and expect the US economy to achieve good growth inthe future, BVSC said.
“The coming US rate increase will not have bid effects on the global stockmarkets and Vietnam’s since fears over the event will be cleared from investors’minds and make them more confident.”-VNA
VNA
