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Shares rebound after dismal day's trading   2011-01-06 - VNS

Shares rebounded in the last minutes of today's trading to leave both national bourses slightly up after a gloomy start.

In HCM City, the VN-Index registered a tiny gain of 0.08 per cent to close today at 482.31 points.

Market volume and value declined, however, with nearly 29.5 million shares worth just VND697.7 billion (US$33.2 million) changing hands.

Decliners outnumbered advancers by 125-69.

Of the blue chips, most of the advancers were banks, with Eximbank (EIB), Vietinbank (CTG), Sacombank (STB) and Vietcombank (VCB) making modest gains, ranging from 0.6-1.3 per cent.

EIB was also the most active stock nationwide with almost 2.7 million changing hands.

In Ha Noi, the HNX-Index rose 0.25 per cent to finish at 111.44.

Volume and value of today's trades fell around 15 per cent to 19.58 million shares worth VND385.4 billion ($18.4 million).

Losers outnumbered gainers by 134-119.

Most advancers were mid caps or penny stocks and none of the 10 leading capitalised shares made gains.

Kim Long Securities (KLS), with 1.85 million shares exchanged was the most heavily-traded stock on the Ha Noi bourse, closing unchanged at VND15,800 (0.75).

Analysts with Wall Street Securities Co said given the lack of supporting information, sellers and buyers were very cautious and if the situation persisted, weak supply and demand would continue to depress market liquidity for the next couple of sessions.

"Mid caps and penny stocks are unlikely to break out and the indices could be distorted by larger capitalised stocks," they said.



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