At the beginning of the trading session, the market flooded in red, with hundreds of stocks dropping due to heavy selling pressure. However, when the market plummeted sharply, bottom-catching cash flow poured heavily into the market, absorbing well the selling demand, helping the VN-Index to recover.
Vietnam’s benchmark VN-Index gained 5.79 points, or 0.58 percent, to close at 1008.87 points with 221 winners, 199 losers, and 76 unchanged stocks.
On the smaller bourse in the North, the HNX-Index advanced 1.23 points, or 0.83 percent, to close at 148.93 points. Of the index members, 103 stocks climbed, 61 declined, and 60 were flat.
The total trading volume reached 696.6 million shares, worth more than VND13.57 trillion. Foreign investors returned to net buy VND420 billion in the trading session.
In related news, the price of gold in Vietnam also increased compared to last weekend.
Saigon Jewelry Company listed gold prices at VND53.7 million per tael for buying and VND54.3 million per tael for selling, an increase of VND550,000 per tael in buying rate and VND600,000 per tael in selling one, at 5 p.m. in Ho Chi Minh City.
At the same time in Hanoi, Doji Group bought SJC gold at VND53.35 million per tael and sold VND54 million per tael, up VND150,000 per tael in buying price and VND300,000 per tael in selling one.
In the global gold market, gold traded at US$1,778.1 in the morning on December 1 Vietnamese time. After converting, this price is equivalent to nearly VND49.8 million per tael.