The VN-Index began to recover yesterday after three consecutive falling sessions, ending the day at 537.59 after a gain of 13.19 points, an increase of 2.52 per cent over Tuesday’s close.

Trading volume fell slightly to about 42.3 million shares, worth a combined VND1.9 trillion (US$104.3 million). Eximbank (EIB) was back in the saddle as the most active share on the bourse with 3.6 million changing hands, while Saigon Securities (SSI) was the leading share by value, with trades worth a combined VND191 billion ($10.3 million).

On the Ha Noi Stock Exchange, the HNX-Index yesterday also advanced by 2.96 per cent to end the session at 182.59. Volume on the northern bourse reached nearly 28 million shares, worth a total of VND1.16 trillion ($62.7 million). Construction giant Vinaconex (VCG) led the day’s trades with a volume of 3.4 million shares.

Following the recent downward adjustment, prices of some shares seemed appealing to investors now, said Bao Viet Securities Co analyst Nguyen Duc Thi in a report.

Optimistic developments on the US stock market and the recent rise of some major Asian indices could also help strengthen investor confidence, he said.

Viet Capital Securities reckoned the current bear market was likely to end once capital diverted in recent days to investments in the overheated gold market returned to securities. The gold price was believed to have peaked, following a slight drop in world prices on Tuesday.

Markets yesterday also saw mixed messages from foreign investors on the two bourses. In HCM City, foreign investors finished the day as net buyers, with a volume of 3.84 million shares, while in Ha Noi they were a net sellers of a net volume of 41,900 shares.