Blue chips made a modest rebound on Friday on the HCM City Stock Exchange, helping lift the VN-Index by 1.31 per cent to a close of 531.51. Volume rose to 55.3 million shares, worth a combined VND2.5 trillion (US$131 million).
Furniture manufacturer and real estate developer Hoang Anh Gia Lai Company (HAG) surprised the market by seizing the position as most-active share on the day, with nearly 3.6 million traded.
Demand for blue chips and property shares increased strongly in the final 15 minutes before the closing bell, with HCM City Infrastructure Investment (CII), construction company Ha Do Comapny (HDG) and Dat Xanh Real Estate Services and Construction (DXG) all hit their ceiling prices.
Other leading shares, like HAG, Tu Liem Urban Development Company (NTL), PetroVietnam Finance (PVF), Bao Viet Holdings (BVH) and Kinh Bac City Development (KBC) also registered gains.
On the Ha Noi Stock Exchange, the HNX-Index also advance by 1.11 per cent to end the session at 173.45 points. Volume of the day's trades grew by more than 15 per cent to 31.4 million shares, worth a total of VND1 trillion ($52.4 million).
Gainers outnumbered decliners by 183-50 on the northern market, where blue chips also performed strongly. Kim Long Securities Company (KLS) continued to secure the place as most active share, with a volume of over 3.3 million changing hands.
Current market developments were heavily dependent on internal factors and information from listed companies, said FPT Securities Company analysts in their daily report. Short rising waves in the shares of specific sectors were being induced by supporting information about particular companies or industries.
"There are signs showing that the real estate market is warming up, supporting property shares in recent trading sessions," said independent analyst Le Viet Hung. "Investors seem to be more confident with this market, despite the last two days of declines," he said.
Foreign investors were net buyers yesterday on both bourses of nearly VND24 billion ($1.3 million) worth of shares.