Vietnamese stock markets recover slightly on Monday

Vietnamese shares opened up the week on a slight incline as both the Ho Chi Minh City and Hanoi indexes increased by just under 1%.
The Hanoi OTC (over-the-counter) market saw 1.4 million shares being traded for VND181 billion.
On Monday, the HCMC bourse saw a trading volume of 2.98 million shares worth VND381 billion (US$24 million), down by 26.1% and 25% respectively from the Friday.
It also recorded the lowest trading volume since early this year, according market analysts.
The market closed with the electronic board alight in red, with only 26 green gainers, while some 58 shares turned red and lost ground.
The gainer list was led by blue chips like STB and SJS, up VND2,000 to VND147,000 and VND356,000 respectively; FPT rising by VND 5,000 to VND515,000; and KDC gaining by VND6,000 to VND199,000.
Particularly, BMC soared by VND21,000 to close at VND500,000, becoming the first small stock to hit the VND500,000 benchmark per share besides the two heavyweights FPT and SJS.
STB continued to lead the market in both trading volume and turnover with 373,760 shares changing hands for VND55 billion.
The two mutual funds lost slightly with as PRUBF1 decreasing VND100 to close at VND14,700 and VFMVF1 dropped VND200 to VND35,600.
Foreign investors were net buyers with 433,870 shares worth VND63 billion, accounting for 15% of the total market, including blue chips like FPT, KDC and PPC among others.
Pham Quyet Thang, head of Vietcombank Securities Company’s trading section, said trading demand among domestic investors remained heavy despite the downward trend of the market.
He added that many investors opened up the week at the Vietcombank trading floor optimistic of a quick recovery.
According to Nguyen Duy Hung, chairman of Saigon Securities Inc., the number of new investors to open securities accounts had declined sharply, however, investors have yet to fold up their tents, withdraw money or close their accounts.

Source: Than Nien