On the Ho Chi Minh Stock Exchange, the VN-Index edged down 0.11 per cent to close Friday at 1,252.74 points. It had gained nearly 4 per cent in the previous four sessions.
An investor makes transaction at a brokerage in Ha Noi. The VN-Index edged down 0.11 per cent on Friday after rising for four straight days.-VNA/VNS Photo Tran Viet |
Liquidity also declined with nearly 699 million shares worth VND15.6 trillion (US$672.4 million) being traded, down 3.5 per cent in volume and 8.5 per cent in value compared to the previous session and the lowest of the week.
“Given the rising streak over the past week, the demand became timid, meaning the VN-Index was unable to extend its gaining force and retreat to the reference level,” said Phuong Pham, a stock analyst at Viet Dragon Securities Co.
Blue chips' slump weighed on the market. Only eight of the top 30 shares by market value and liquidity gained value while 18 declined and four were flat.
Securities companies surprised the market when three of the top 10 stocks lifting the VN-Index most came from this group – a rare occurrence as the market is usually led by the banking and real estate sectors.
Across the whole sector, only four brokerage companies lost value while 37 gained value. The biggest gainers included Saigon Securities Inc (SSI), up 5.3 per cent; VNDirect Securities Co, up 3.8 per cent; and Viet Capital Securities Co (VCI), up 4.2 per cent.
On the dark side, heavyweight shares such as Vinhomes (VHM), Vingroup (VIC), Masan Group (MSN), Vietcombank (VCB), steelmaker Hoa Phat Group (HPG), Vinamilk (VNM), Vietjet (VJC), brewer Sabeco and lender BIDV (BID) were among the top market draggers.
“The gain in most stocks is showing signs of cooling down when the VN-Index is gradually approaching the strong resistance zone of 1,260-1,280 points. However, the correcting liquidity was relatively low compared to the recent gaining sessions, and selling pressure was not too strong,” Phuong said.
She reckoned that the market will likely continue to correct in the next sessions, however, the demand will regain and support the indices. The nearest support zone is 1,245 points for the VN-Index and 1,270 points for the VN30-Index.
On the Ha Noi Stock Exchange, the HNX-Index rose 0.73 per cent to end at 299.90 points. Liquidity also decreased here with nearly 92 million shares worth VND1.7 trillion being exchanged.
Shares rebound but liquidity remains low Vietnamese markets rebounded Tuesday thanks to the recovery of pillar stocks but liquidity remained low on cautious investor sentiment. |
Shares eke out a gain on growth of energy stocks Shares eked out a gain on the Ho Chi Minh Stock Exchange on Tuesday thanks to the strong growth of energy stocks but caution remains in the face of selling pressure. |
Shares decline on cautious sentiment Stocks headed lower on Monday with investors in a cautious mood amid increased selling pressure. |
Shares end week on negative note The stock market ended the week on a negative note as increased selling pressure made indices reverse to fall in the final minutes of trading. |
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