Vietnam’s benchmark VN Index rallied 0.4 per cent from its closing low of more than one month, as most blue-chips gained slightly despite weak money inflow from domestic investors.
Hanoi-based Vietcombank, Vietnam’s top lender by market value, bounced back 2.27 per cent from its lowest close since February 5, while PetroVietNam Gas, the country’s biggest listed firm, advanced 0.65 per cent.
PetroVietNam Gas said it would buy back 10 million shares at a maximum price of 100,000 dong ($4.7) each on March 25-31, it had said in a filing to the exchange late on Monday.
“The market rebounds but domestic investors appear to be tiring,’’ said analyst Nguyen Hoang Phuong of Ho Chi Minh City Securities.
“Activities at initial public offerings seem to be picking up and pulling money out of the stock market.’’